Mike Miles on Corporations

Overseas-based US corporations cost US jobs

Large corporations are increasingly setting up shop abroad and employing citizens of other countries rather than US workers. It is estimated that 3.5 million US jobs will be lost over the next several years as companies seek to cut costs and avoid paying benefits to employees. This trend is likely to pick up speed and will result in even more jobs lost. "Corporate inversion" strategies, whereby a US-based company establishes a foreign entity, which then buys the US company, will also continue to increase Source: Campaign website, mikemiles4senate.com, "Issues & Positions" Jun 15, 2004

Establish a minimum real corporate tax rate of 17%

I will revise corporate tax policies so that US firms are encouraged to maintain jobs here at home. We need to discourage transfer pricing and other tax avoidance schemes. We also need to establish a minimum real corporate tax rate of 17% (at present, corporations pay an average of 21%, but many of big corporations pay less than that & some pay no corporate tax at all). Any incentive to decrease the 17% real rate, such as depreciation policies, should be tied to job creation or US worker benefits. Source: Campaign website, mikemiles4senate.com, "Issues & Positions" Jun 15, 2004

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