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Bring Jobs Home To America - Presentation 062111
Bring Jobs Home To America - Presentation 062111
Bring Jobs Home To America - Presentation 062111
Replace the job-killing, Corporate Tax System with a border-adjusted, business consumption tax.*
Since 1974, manufacturing employment has fallen from 24% of total U.S. jobs to less than 9% in 2011.
Manufacturing Employment
Jobs in the manufacturing fell further proportionally than any other sector of the economy except construction.
In April 2011, Manufacturing jobs remain nearly 15% below pre-recession levels, while total U.S. non-farm employment has regained 95% of levels on Dec. 2007.
What is a BCT?
BCTs benefit exports over imports because outside sales do not have to pay the home nations BCT. The increased revenues from BCTs also have allowed our largest foreign competitors to lower statutory and effective corporate income tax rates.
Rates for India and Canada vary by region/province. Canada's current VAT rate is 5% (down from 7%) - harmonized tax rate includes province sales tax.
Changing the way we tax U.S.-based businesses will benefit small businesses
A joint study by IBM and the Internal Revenue Service found that businesses with fewer employees have a significantly higher compliance cost for paying taxes under the current structure.
Source: Estimates of U.S. Federal Income Tax Compliance for Small Businesses
The corporate income tax encourages tax-driven decision making rather than business-based decisions
The chart to the right illustrates the number of businesses that have changed tax status to avoid double taxation on personal incomes and capital gains.
The tax is levied in full on imports entering the U.S. the same as in other countries we export to.