The corporate tax rate could go up by 20% or down by 20% yet those loopholes remain so it might as well be 0% like it effectively is now for many companies.
If these companies pay as little as 0% to as much as 1.1% (lol) or even have a negative tax rate. So I don't understand why people are advocating changing the rate when it clearly doesn't even matter. Closing the loopholes first is absolutely necessary, however under any tax rate higher than a few points that would cost Mitt Romney's people money. Remember corporations are people according to Romney.
Its because the corporate tax rate debate is what we refer to in the vernacular as a red herring. Romney's "plan" is just the usual Republican ideas reheated and served to us. NONE of this stuff is going to improve the jobs picture and some of it will hurt. Let me ask you this. I the economy was in a robust recovery what would Romney's plan look like? Answer, the exact same. Think about it.
