英语翻译
Giventheprecedingdiscussion,itiseasytounderstandhowreductionsinthetaxes
paidbybusinesses–and,inparticular,reductionsincorporateincometaxeslikethe
BPT–wouldfailtopayforthemselves,theclaimsofproponentsnotwithstanding.
Corporateincometaxescomprisearelativelysmallpartofthetaxespaidby
businesses.Taxes,inturn,makeuponlyaverysmallfractionoftotalbusinesscosts.
Costssuchaslabor,energy,andtransportationhaveamuchgreaterimpacton
businesses’bottomlines,yetstate’seffortstomitigatethosecostsarehamperedby
spendingcutsnecessitatedbyreductionsinbusinesstaxes.Asaresult,changesin
taxpolicylikelyhavelittleimpactonbusinesses’decisionstoinvest,tohire,andto
grow.Byextension,then,changesintaxpolicyareunlikelytospureconomicgrowth
tosuchalargedegreethattheresultingchangeinrevenuewillbesufficienttooffset
initiallosses.