New report: Corporate tax cuts unlikely to create jobs, boost economy

A new report from the Budget & Tax Center explains in stark detail why cutting corporate tax rates is precisely the wrong strategy for North Carolina — not just for our schools and public safety workers, but for business too.

Turns out that more matters to business than marginal savings on taxes. Having an educated workforce, world-class public amenities and healthy communities matters.

Add this to the study from Iowa we talked about the other day, and you have a clear picture: we need a modern revenue system, not more shortsighted cuts.

Here’s the news release:

Report: Cutting corporate tax rate unlikely to boost economy, create jobs

2 Comments

  1. Nonanonymous

    May 5, 2011 at 7:45 am

    Corporate tax reform is a problem that must be addressed at the federal level. State taxes should be kept to a minimum, or businesses will congregate in those states with the lowest taxes, or highest incentives. This is the system we have now, and it’s broken.

    Addressing wealth and income disparities, and corporate tax reform will stabilize the entire economy. The status quo is unsustainable and must be reformed at the federal level.

  2. Jeff Shaw

    May 5, 2011 at 7:50 am

    Then why isn’t all American business flooding to South Dakota, which has our country’s lowest corporate taxes? The conservative Tax Foundation ranks them No. 1 for lowest business tax rates; if this argument were true, shouldn’t business be growing there?