There are people who think they can make you believe that a cat is a dog if they tell you enough times. That’s exactly what came to mind when I read Tom Bills’ letter (“Lowering Taxes on Corporations Creates Jobs and Helps the Poor,” March 23). People like Mr. Bills always forget to include certain things in their statements. These things are called facts.
Mr. Bills states that corporations moved overseas due to high corporate taxes. Fact: Corporations moved overseas because they found a workforce willing to work 16-hour days for a dollar a day or less — something Americans refused to work for.
Mr. Bills stated the lowering of corporate taxes would create more jobs. Fact: In 2004 the Republicans passed the American Jobs Creation Act in which corporations brought back (or as they called it “repatriated”) $360 billion of overseas profits taxed at only 5 percent instead of the normal 35 percent corporate tax rate; $360 billion minus 5 percent equals $342 billion tax-free. They told us the reason they passed it was because these corporations promised to use the profits to create jobs and stimulate the economy. Instead, much of this money went to stock buybacks and increased dividend payouts making the CEOs, executives and shareholders wealthier. Within a year after its passage, some of these same companies continued to terminate thousands of more workers.
So, as the Mr. Bills of the world try to get you to believe that a cat is a dog, people like me will continue to believe the facts.