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Unformatted text preview: rapidly, provide more jobs, and pay higher salaries. Lowering corporate taxes would significantly boost the economy by lowering unemployment, and promoting more spending by individuals. The deficit between the amounts paid by corporations in different sectors of the economy is astounding. Corporations based in drugs, biotechnology, and Internet average corporate taxes of less than 6%, meanwhile trucking corporations face a tax of almost 31% and corporations in petroleum and electricity both face taxes of more than 33%. As a result of these corporate taxes, the economy is not reaching its full potential. These taxes also work to inhibit the growth and formation of new corporations in a difficult economy. If the corporate taxes were reduced, the government would lose some revenue directly from corporate taxes, but it will more than gain back what is lost through an increase in economic growth....
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- Spring '08
- struggling economy