By Matt Rooney | The Save Jersey Blog
It was a moment of eloquence in the face of an onslaught of ignorance, Save Jerseyans.
On Monday, the New Jersey State Assembly passed ACR-216, a resolution calling on Congress to stop “corporate inversions,” a fancy word for U.S. corporations relocating overseas to to reduce their U.S. tax liability.
Rather than advocating for cuts in America’s incredibly noncompetitive high corporate tax rate, which at 39.1 percent is now the worst in the developed world, Trenton liberals (led by Bonnie Watson Coleman, the primary sponsor who just got herself elected to Congress) support forcing corporations to stand their ground and take it on the chin.
Look no further than the Garden State for evidence of where that strategy gets you…
Assemblyman Michael Patrick Carroll tried to make just that point – and provide a little history lesson as we always do here at Save Jersey – in his truly excellent floor remarks offered up immediately before passage:
How many of these countries with lower corporate tax rates have much higher personal tax rateseb? MPC is an economics maven now? Corporations want the benefits of personhood, but not the responsibility … so what’s new?.