Senior Sen Mike Crapo put out a PRESS RELEASE today claiming the USA Corporate tax rate is the highest on earth and called the U.S. Government “antagonistic” toward job creators.
Crapo claims there is also growing evidence that high taxes stifle business growth and employee wages.
We see it a little differently. The following come to mind here in the Gem State:
–Micron hasn’t paid taxes in years because they are the largest “non-profit” in the state.
–The Boise Valley Railroad sought tax CREDITS for routine expenses to maintain their railroad track and Crapo supported the subsidy.
–Chinese owned Hoku solar panel plant in Pocatello gets urban renewal funds, energy credits, etc. and they don’t even pay their electric bill, let alone pay a single cent in taxes.
— French owned Areva continues to take taxpayer cash and has suspended its plans for a private facility at Idaho Falls–thanks to Rep. Mike Simpson.
–Dynamis avails itself of federal largess which will pay up to 30% of construction costs for a private for-profit electric plant at the Ada Landfill.
–Then you look at the largest private employer in the state–ST. LUKES–which pays no taxes at all, despite a $40,000,000 profit.
The list goes on. With Federal debt in the trillions and few companies, if any, actually paying the top rate, it makes no sense to push for tax breaks in our opinion. If a company is paying 39% income tax it is because they are making a bunch of profit and can afford to do so.
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