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Why cutting corporate taxes is good policy

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Well-known member
Apr 12, 2008
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real world
Go Canada!

If Iowa's Gov. Terry Branstad doesn't get a gift basket from Finance Minister Jim Flaherty -- maple syrup, Beavertails, Pelee Island wine, whatever -- then someone in his office is behind the 8-ball.

The Republican governor of the state where Tea Party queen Michele Bachmann won the weekend's straw poll, was begrudgingly gushing over Canada's financial stability when he appeared Sunday on NBC's Meet The Press.

It was amazing to watch.

Branstad's remarks on Canada, unprompted by any mention of our country, and surely unprecedented, will likely now be front-and-centre in Flaherty's next speech -- if his staff reads this and get its collective butt in gear.

For it was pure gold.

"The Canadian government has reduced their corporate income tax to 18%, and it's going to 15%," said Branstad. "I've had companies that I've called on in Chicago to come to Iowa, and they've said, 'We like Iowa, but if they don't change the federal corporate income tax, we're probably going to go to Canada.'

"Now, that's a tragedy when (you see that) Canada is now beating us ... "

But Branstad didn't stop there.

"And their financial system is stronger, too," he said," because they've been more conservative in the way they've handled loans in the past."

Moderator David Gregory, in attempting to get Branstad to ease up, stated rather naively Canada's financial security was largely due to the fact that "they've discovered massive amounts of oil in Canada."

But Branstad persisted.

"We have (oil) too. And, and, and," he stammered, "the Obama administration won't let us use it."

So there it is -- a gift from the Republican governor of Iowa to our finance minister.

What Branstad was saying is what we have been saying all along to those on the left who believe capitalism is evil.

Business is not into politics.

It's into return on the dollar. It's into where the best deal can be found.

This is why Canada's reduction in corporate taxes is good policy, and why a business in Chicago would tell the governor of Iowa they'd rather move to Canada than pack up for Des Moines.

It's all about profit and, with profit, come jobs.

Nothing evil there.


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