Obama feels our pain: not a job, but a handout
"For example, in his address to the joint session of Congress last week, the President announced his intention to punish "corporations that ship our jobs overseas."
"The United States imposes the second highest business taxes of any industrialized nation in the world. While countries like Ireland tax corporations at 12.5%, and even our neighbor Canada is moving its national business tax rate to 15% (the lowest among the G-7 countries), the United States taxes businesses at a whopping 35%. And a number of states have corporate income taxes on top of that.
"Inevitably, high taxes in the U.S. cause some businesses to locate some or all of their business in lower tax countries overseas."
Exactly Wrong on the Economy
By Newt Gingrich, March 3, 2009