Corporations should pump up economy

Cut corporate taxes? Why? In 2010, the federal government received all of $179 billion in corporate income taxes. In 2009, $138 billion was received. This is much less than was paid out in executive compensation in those years.

Corporations must consider their executives more valuable than the services and protection that this country gives them. What the corporations paid in taxes was much less than the nearly $900 billion paid in payroll taxes. It is much less than the $900 billion paid in through personal income taxes.

Corporations have not carried their share for years. But we individuals have, and in addition the country has been forced to borrow the money. Republicans must think this is just, as they want to cut corporate taxes even more.

It is said that corporations need an income tax rate of 25 percent to be more competitive overseas. This is more than simple fact distortion. The companies listed in the S&P 500 index receive more than 47 percent of their revenues from oversees. That would indicate they are already very competitive.

And, as far as the economy is concerned, $2 trillion is already sitting in corporate coffers to invest in new facilities and create jobs. But, without demand, there is no incentive. So, any solution to improve the economy cannot rely on tax cuts. Corporations could do the most to improve the economy. They could increase pay, especially in retail and fast food industries. In Illinois alone, the savings to all levels of government if a living wage were paid would be $2.2 billion a year.

Corporations could also pay out their cash in dividends. Paying more in dividends would put at least some more money in circulation. T

Cut corporate taxes? No, hold them accountable, and make them pay their fair share.

Joseph Sunderhaus

Glen Ellyn