1482 Taxless

I'm a big advocate of small business. Partly because I'm always pulling for the little guy. Rooting for the underdog. Betting on David versus Goliath. And getting annoyed at the 900-pound Gorillas.
Which in the business world means disliking the large bullies too. A study awhile back showed that large corporations, more often than not, welcome regulations—because they overtax the efforts of smaller competitors.
Which makes sense. Your average small business with 10 employees doesn't have enough personpower to have an HR department, an accounting department, and a compliance department. They barely have enough money to keep on the lights.
So when it comes to tax breaks, I say give them to small businesses. Reward those intrepid entrepreneurs with the fresh ideas. The ones hiring your Aunt Maybelle and your friend's teenager. Not the one hiring the overseas laborer for 10 cents an hour.
As plans move through congress to reduce the corporate tax rate to 25%, let's look closely at who benefits. CEOs are currently sitting on a record 940 Billion in cash reserves. During 2010, US corporate earnings increased more than they had since 1988.
Pity they didn't use a few of those dollars to create a factory or two...and a few American jobs. General Electric made 14.2 Billion in worldwide profits. Not bad. Then, exploiting tax breaks, they claimed a 3.2 Billion dollar tax refund from Uncle Sam.
The trick? Hire a good accountant? Partly. But also spend 200 billion lobbying over a decade. It's probably deductible too. But you can't deduct it if you don't have it to spend, so that's another perk unavailable to small, local, job-creating business.
I don’t care if the corporate tax rate is 25% or 35%. I just want it to end up being something over zero...
America, ya gotta love it.