Meet Five CEOs Who Prove That Lower Corporate Taxes Don’t Equal More Hiring | Alternet

Several of the CEOs pushing this idea actually run companies that pay extremely low corporate tax rates, well below the statutory 35 percent rate—or pay none at all. So, via the invaluable Institute for Policy Studies, let’s see what kind of job creation these folks did while enjoying very low corporate tax rates:

1. Randall Stephenson, AT&T: Average effective federal corporate income tax rate, 2009-2011: 6.3%

U.S. job layoffs since 2007: 54,000

2. Lowell McAdam, Verizon: Average effective federal corporate income tax rate, 2009-2011: -3.3%

U.S. job layoffs since 2007: 30,000

3. David Cote, Honeywell: Average effective federal corporate income tax rate, 2009-2011: -14.8%

U.S. job layoffs since 2007: 4,000

4. Kenneth Frazier, Merck: Average effective federal corporate income tax rate, 2009-2011: 13.2%

U.S. job layoffs since 2007: 13,000

5. Terry Lundgren, Macy’s: Average effective federal corporate income tax rate, 2009-2011: 20.7%

U.S. job layoffs since 2007: 7,000

Looking at these numbers, there isn’t much of a correlation between low corporate tax rates and hiring, to say the least. And beyond these specific examples, the idea that business aren’t hiring because of burdensome tax rates is belied by the fact there are record-breaking corporate profits at the moment, and yet unemployment remains stubbornly high.

via Meet Five CEOs Who Prove That Lower Corporate Taxes Don’t Equal More Hiring | Alternet.

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