GOP Rep's Jobs Bill Would Abolish Corporate Taxes
Gohmert's plan beats Obama's to House
By Rob Quinn, Newser Staff
Posted Sep 15, 2011 2:00 AM CDT
"It is a very simple bill, which will eliminate the corporate tax which serves as a tariff that our American companies pay on goods they produce here in America," Gohmert says.   (AP Photo/Harry Hamburg)

(Newser) – Louie Gohmert and President Obama's plans to get Americans back to work have the same name—the American Jobs Act of 2011—but that's where the similarities end. Rep. Gohmert, a Republican from Texas, introduced legislation to the House yesterday that would reduce the corporate tax rate from 35% to zero, reports the Raw Story.

"My bill is not the president's bill, it's a real job creator," said Gohmert shortly after filing the two-page plan, which beat Obama's 155-page bill to the House. Critics took issue with Gohmert's claim that boosting corporate revenue by doing away with corporate taxes would spur job growth, noting that American corporations are already sitting on trillions of dollars.

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Showing 3 of 58 comments
NewserScooter
Sep 16, 2011 7:45 AM CDT
Here is an article, citing both sides BTW about the bill filing. http://www.tylerpaper.com/article/20110916/NEWS01/110919838 Why is anyone surprised that the recession is extending. The President is ess. doing all the things that Roosevelt did, and that dragged the Depression about 9 years, and might have gone longer except for WWII. Too many unknowns right now to favor hiring. Including the value of money, the new regs, the new HC costs and the Corporate tax rate, which apparently favors the Presidents allies like GE (Most multinationals can shelter profits overseas, something that is a little harder for domestic companies). I suspect that the recession will last until a new administration takes over. That may include Obama, with a largely new staff and attitude (as Carville has called for) or an entirely new President.
Snowleopard
Sep 15, 2011 7:30 PM CDT
corporations use to contribute to 30% of federal revenue, and because of all the corrupt corporate loopholes, it now pays about 6%. Now the GOP wants to lower it to 0%?! even though corporations are making record profits?! How much will this increase the debt?
anchower
Sep 15, 2011 11:48 AM CDT
Cut corporate profits to zero.