To: Jim McMannis who wrote (86272 ) 7/28/1999 4:47:00 PM From: Tenchusatsu Read Replies (4) | Respond to
Jim, you might be interested in this. It's taken from a USA Today commentary arguing for tax cuts:usatoday.com Speaking of investments, there's another reason why we might want to cut corporate taxes. T.J. Rodgers is the CEO of Cypress Semiconductor, a computer chip company in Silicon Valley. In a recent letter to the HouseBudget Committee, here's how he made the argument: “Consider the effect when the Clinton-Gore administration raised the tax on Silicon Valley companies from 35% to 36%. Vice-President Gore basks in the technology image that a few Silicon Valley leaders have given him. But that extra 1% tax Al Gore levied on Silicon Valley takes away billions of dollars from Silicon Valley—over $400 million a year from Intel alone. Consider that corporate tax on Intel a choice: either Intel invests its own profits, or surrenders those profits as taxes to be invested by the government. Intel's $400 million will be invested; raising or lowering taxes just decides who invests it. From that perspective, we have the preposterous claim that high-tech VP Al Gore can do better by investing the $400 million than could Intel's CEO, Craig Barrett. I state the obvious: Every American would be better off if Craig Barrett invested the $400 million.”
