ALLEGAN (WKZO) -- Perrigo’s decision to move its headquarters, at least on paper to Ireland has prompted several Republicans, like Bob Genetski of Saugatuck to say its time to lower the tax rate for corporations.
But Industrial Economist Brian Long says few corporations actually pay the full 35%. In fact the average paid is around 18%.
President Obama addressed the issue Tuesday, proposing the corporate tax cuts the GOP wants if they also fund a package that will produce infrastructure improvements and jobs.
He called it the “Grand Plan”.
But the republican leadership in both houses declared it dead on arrival even before the President announced the plan.
Dr. Long says reforming the tax code in the current environment in Washington would be like turning a battleship around on the KalamazooRiver.