It's all part of the narrative that they're building with the administration. A reality check shows that corporate America is enjoying record high profits, though actual new jobs are lacking. Sure, they keep talking about jobs but none of them are doing much about jobs in the US. If Washington wants to play this game, then at least add a firm commitment linking tax cuts to new jobs in the US. But being that this is the political class negotiating, don't be surprised when we see yet another giveaway without strings attached as we saw during the banking meltdown.
Republicans and Democrats alike are all about appeasing corporate interests and could care less if the voting schmucks ever get a break. Regular voters can't finance an election but the corporate world can do it with ease. Guess who is going to win this debate?
The top executive of Procter & Gamble will take corporate America's case for a lower tax rate to U.S. lawmakers on Thursday, and also call for an end to taxation of foreign-earned profits.
Multinational companies say the top 35 percent corporate tax rate hamstrings them competitively against foreign-based rivals, most of whom are subject to far lower rates.
The House Ways and Means Committee hearing, the first in a series expected in Congress this year on simplifying the U.S. tax code, gives them a chance to press their case.
