In the old days when a majority of Americans were farmers, ranchers and small business owners, it wasn't necessary to explain that high tax rates on businesses would kill jobs and the economy. The vast majority of Americans understood that. Unfortunately today, too many Americans simply don't understand the basics anymore and Democrats have fostered hate against the very business people that are the engine of our economy that creates our jobs and funds our economy.
Thanks to the highest corporate taxes in the developed world, millions of U.S. jobs have been shipped out of America to countries with lower corporate tax rates which has killed the very U.S. manufacturing jobs that created the most prosperous middle class in the world and stalled the pay increases of most Americans.
In addition, because America is the only nation that double taxes the foreign profits of U.S. companies, close to $3 trillion that could be used to rebuild American factories and jobs sits overseas at this critical time. It is infuriating to hear Nancy Pelosi and Chuck Schumer tell the American people that reducing the corporate tax rate benefits the wealthy. The truth is that the average American is really paying for our insane corporate tax rate, not corporations.
The Republican tax reform package will create jobs, grow the economy and increase wages. That is the truth.