Corporate to 10 percent is better for

Corporate tax are taxes on a profit of a company by the Government. For many decades the Republicans and Democrats have argued if lower corporate taxes are better or bad for the economy. Past administrations in the United States have proposed either high or low corporate taxes lower corporate taxes are better for the economy. A corporate tax rate cut from 35 percent to 10 percent is better for the economy. It will create jobs and higher wages from encouraging investment and keeping jobs from moving overseas. These factors from lower corporate taxes will be better for the economy.                      Lowering the Corporate tax from 35 percent to 10 percent will create jobs in the United states. Lower corporate tax rates encourages investment and when investment is encouraged jobs will be created in the United States ,because when lower corporate taxes encourages investment ,more people start business.That helps and grows and employ people and big companies will have more profits which will be used for more employment which will create more jobs. According to an article in “The Atlantic”, written by Alena Samuels, lower corporate taxes encourages investment. In This  article, called (insert article name) it talks about the country Ireland and its corporate tax rates. Ireland has a corporate tax of 12.3 percent, which is one of the lowest in the developed world and talks how companies like Microsoft, Google, Apple, and Adobe have subsidiaries which were originally from the United states are in Ireland. The reason these companies are moving to a country like Ireland is because Ireland has one of the lowest tax rates. If The United States had a tax rate of 10 percent, the country could attract one of the biggest companies in the world. It could also bring back companies like Google, Apple, Microsoft, and Adobe to the United States. More investment means higher economic growth. Right now, the United States has a Corporate Tax rate of 35 percent and Ireland has a corporate tax of 12.3 percent and according to The Atlantic Ireland’s gross domestic product grew at 26.3 percent in 2015 unlike the U.S which grew at 2.4 percent. When there is lower corporate taxes there is more investment and when there is more investment there is a higher gross domestic product rate. Because of Higher investment more jobs are created. Many iconic companies have moved out of the United States just to pay low corporate taxes since low corporate taxes attracts companies and investment. As CNBC says, Medtrnic moved to Ireland which has a 12.3 percent corporate tax rate and Purina which makes pet food moved to switzerland which has a 8.5 percent corporate tax rate. These two countries have one of the lowest tax rates and these two major companies moved because of the low corporate taxes. And on upon the low corporate tax rates it prevents jobs from moving out of the United States. Accordin to CNN money Us lost 5 million jobs since 2000. Under these highcorporate tax rates companies have been moving out of the United states to other countries. If the corporate tax is lower these countries would stop moving to other countries. . This will help  current jobs from being laid off and being outsourced to other countries.Low corporate taxes will create jobs, lower the unemployment, and keep jobs in the United States.                                          Lowering Corporate Tax from 35 percent to 10 percent will higher wages. Lowering Corporate taxes will higher wages because lower corporate taxes leaves profit for company which can be used for increasing wages. According To Tax foundation it says that if the United States lowered the corporate rate to the OECD average or worldwide average the wage rate would go up by 1.9 percent and create 425,000 jobs. If the United States decreases the rate which U.K uses which is 20 percent there would be a 2.8 percent and create more than 600,000 jobs. This is why lowering corporate taxes will increase wage. A corporate tax of 10% could be mean way more jobs and a lift in wage. Countries like Switzerland has a similar corporate tax rate of 8.5 percent and that country has a minimum wage of 25 dollars which is one of the highest in the world. Even though the United States might not get a wage close to that it will certainly lift the wage higher than the national minimum wage of 7.25 dollars. According to the LA Daily News, it says “The president would have the support of Republicans were he to favor legislation to lower corporate income taxes. Unions that have supported the president in the past could be brought on board by emphasizing the employment and wage benefits of a lower corporate tax rate. With union support, Democrats in Congress should also support the legislation. Concern over the plight of the middle class has been a major component of President Obama’s administration. Simply raising the minimum wage would not improve the standard of living for the typical middle class family and it certainly won’t do anything that would lead to sustained growth in earnings. Only an increase in labor productivity can do that. A lower corporate tax rate is a policy that can deliver the higher labor productivity needed to push up wages.” This shows why low corporate taxes are beneficial. Low corporate taxes give room and profit to companies that gives them space to higher wages. This is why lowering corporate taxes will higher wages.                      At the end Lower corporate txes are better than higher corporate taxes. More jobs. And Higher wages. Also more GDP growth. This is why lower corporate taxes are better for the economy of the United States.