Thursday, February 5, 2009

GOP's corporate tax cut proposal

The most important advantage of outsourcing is lowering a corporate tax. Therefore, cutting US corporate tax is the most welcome proposition for American scientists and engineers.

From CNBC "Fast Money":

... Senate Republicans offered their own, cheaper economic stimulus plans focused on tax cuts – it’s a plan priced at $445 billion, half the cost of Democratic version which totals $885 billion.

It centers on cutting in half a 6.2 percent payroll tax on employees, cutting the corporate tax rate to 25 percent from 35 percent and lowering the bottom two income tax brackets to 10 percent and 5 percent, all for one year.

The GOP also proposed $11 billion to help prevent home foreclosures. "Our focus is first on housing, low interest mortgages and a tax credit for home buyers," explains Sen. Lamar Alexander (R) Tennessee on Fast Money. "We want to give every American the opportunity to buy a 4% mortgage."

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