A few words on McCain's corporate tax talk

I've launched a few American companies overseas so in my own line of work the subject of corporate tax rates is a familiar issue. Yes, Ireland currently has a 10% tax rate for certain industries (software being one of those) though I'm sure McCain knows it's increasing to 12.5% which is also a low figure. Many American companies have established their European HQ in Ireland (not world, but Europe, where Spain is located) to take advantage of the special tax rates. Microsoft, Dell and others have all done this and it's been fantastic for the Irish economy. Switzerland also has a few cantons where the rates are in a similar range. To that end, I have yet to see where Ireland or Swiss cantons are threatening to take US businesses from the US. These tax rates are there to help encourage foreign companies to set up *regional* business. The same rates also apply to local companies but McCain suggested this was drawing American companies away and to suggest this is just false and naive.

The US is generally at the top or near the top year after year after year for offering an easy and support business climate. My own belief is that it's been more focused on helping large companies through anti-competitive help from the Republicans not to mention ridiculous tax code assistance for the richest of the rich, but still, the US remains a good place to create business. The World Economic Forum listed the US as the number one country last year. It was McCain's party who let so many US companies move their official headquarters to Bermuda or Cayman or heck, even Dubai, as Halliburton has recently done. (I should note there that any US individual who attempted such a move would have serious problems, because walking away would result in legal action by the IRS.)

For McCain to shed tears for corporate tax rates first gives us some insight as to who he really cares about and second, is just wrong. McCain still thinks it's the 1980s with his Reagan trickle down economics talk. It didn't work then and it definitely isn't working now. Corporate America does not need a tax break, especially while the middle class is stuck with yet another bill. Let them be good citizens like the middle class and pay their fair share and modernize the tax code to prevent this offshore nonsense that is illegal for regular Americans. Regardless, the entire McCain pitch was yet another 1980's retread with the same tired old talk that brought us here today. It doesn't register with McCain that we've been trying the 1980's GOP theory for a few decades and it just imploded. After last night, it wasn't clear to McCain that the event even occurred.