State of Iowa Archives: on Corporations


Sam Clovis: End corporate welfare subsidies & crony capitalism grants

Congress needs to have the discipline to examine and then eliminate at least 50% of the grants and subsidies that comprise unnecessary and damaging market interference. There are over 2000 subsidies and 1000 grant programs that cost American taxpayers some $1.5 Trillion a year. Imagine the effects of allowing markets to work as they should. This corporate welfare, crony capitalism and unjust redistribution of tax dollars should be halted and is the primary responsibility of the Congress. As a senator, I will wage a tireless battle against these programs that reward special interests and punish the American people.
Source: 2014 Senate campaign website, Iowans4SamClovis.com, "Issues" Nov 11, 2013

Herman Cain: Take the capital gains tax rate & repatriation tax to zero

Q: What one specific thing would President Cain do first to restart the economic engine?

A: Make the tax rates permanent. The business sector is the economic engine. You have the group that's talking about spending. You have the group that's talking about cutting. I represent growth. And it starts with the business sector putting fuel in the engine. In addition to that one thing that you asked me to identify, we must have a maximum tax rate for corporations and individuals of 25%, take the capital gains tax rate to zero, take the tax on repatriated profits to zero, make them permanent, and--and then certainty back into this economy. And I believe we can turn it around.

Source: Iowa Straw Poll 2011 GOP debate in Ames Iowa Aug 11, 2011

Herman Cain: Suspend taxes on repatriated profits, permanently

Q: You say that we can boost job creation by eliminating the tax on companies that bring back overseas profits to the US. But when we tried a tax break like this in 2004, companies didn't create jobs. They just paid bigger dividends to their shareholders

CAIN: You're only looking at a small piece of it. It is a combination of things that I indicated. If you just pick out one thing and try just to do that, no, that is not comprehensive. I talked about lowering the top corporate and personal tax rays to 25%, also taking capital gains rates to zero as well as suspending taxes on the repatriated profits. And here's the big one, make them permanent. Uncertainty is what is killing this company. Now if a company were to decide that they want to take some of that money and pay a bigger dividend, so what, it is their money. So I'm not concerned about what they will do with that money if it is allowed to come back. I'm more concerned, bring it back so they will have an incentive to make some growth decisions.

Source: Iowa Straw Poll 2011 GOP debate in Ames Iowa Aug 11, 2011

Jon Huntsman: EPA's regulatory reign of terror prevents building in USA

Q: You said that you helped create thousands of jobs via the Huntsman Corporation. But of the 12,000 workers employed by the company, almost 10,000 were hired in China and India and other places outside the US. Isn't it accurate to say that you've got more experience creating jobs overseas?

A: Huntsman Corp. is a wonderful example of a family entrepreneurial success story: created jobs; left communities a whole lot better than they found them; created a wonderful Huntsman Cancer Institute. But let me tell you the real problem of what we're up against. If you want to build a facility in the US, you can't because of the EPA's regulatory reign of terror. We don't make things anymore in this country. We need to start making things in this country. And in order to do that, we need serious regulatory reform, [including] ending the EPA's regulatory reign of terror. We need to create a more competitive environment that allows our businesses to expand our economic base and create jobs.

Source: Iowa Straw Poll 2011 GOP debate in Ames Iowa Aug 11, 2011

Rick Santorum: Cut corporate tax rate to zero & jobs will come back

Q: [to Pawlenty]: You say your economic plan with tax cuts and spending caps would grow the economy by an average rate of 5% a year for 10 years. With the last two quarters averaging less than 1% growth--is your proposal just pie in the sky?

PAWLENTY: Well, the US needs a growth target, and it needs to be an aggressive and bold growth target.

Q: Gov. Pawlenty says America can quickly grow 5% a year. Is he right?

SANTORUM: America has unbounded potential. And I think putting a limit on that potential, we've grown at faster rates than that. When I grew up, 21% worked in manufacturing. It is now 9%. If you want to know where the middle of America went, it went to China, it went to Malaysia, it went to Indonesia We need to bring it back. I put together a four-point plan to do it. The big thing I proposed is to take the corporate rate which makes us uncompetitive, particularly in exporting goods, take the corporate rate and cut it to zero for manufacturers.

Source: Iowa Straw Poll 2011 GOP debate in Ames Iowa Aug 11, 2011

Terry Branstad: High commercial property taxes mean higher prices

The inability of Senate Democrats to address commercial property taxes means Iowa will continue to have the 2nd highest commercial property taxes in the nation. It will mean residential taxpayers in this state will see historic increases in their property taxes over the next five years as record prices for commodities will trigger a roll up in residential property taxes. I will not let this issue be pushed aside and will take steps to bring it to the Legislature's attention in the future.
Source: 2011 Iowa Gubernatorial press release Jun 30, 2011

Terry Branstad: Reduce state corporate income tax from 12% to 6%

This budget make it clear that Iowa is ready for job creation. We all know that small businesses are the engines of our growth. Yet, our small businesses pay an income tax rate that is highest in the nation at 12%. And our small business pay commercial p
Source: 2011 Iowa State of the State Address Jan 27, 2011

Chris Dodd: Bankruptcy Reform Act hurt working class families

DODD: [to Edwards]: Back in 2001 the congress passed I think one of the worst pieces of legislation of all time: the so called the Bankruptcy Reform Act. Senators Clinton, Biden, and Edwards voted for that bill, which drove a lot of people working class families into poverty, & made it very difficult for them to manage their lives & to get back on their feet again. John, you made a big issue of poverty, something you have dedicated your life to. So could you explain to me why you’d vote for a piece of legislation like that which did so much damage to so many families in our country?

EDWARDS: Yeah, I was wrong. I was wrong and you were right Chris. I should not have voted for that bankruptcy bill. It was a bad, bad piece of legislation. I think any of us who voted for it were wrong to have voted for it. I think there were some good provisions in it but I think on the whole when you look it at it actually did damage to low income families and working families in this country.

Source: 2007 Iowa Brown & Black Presidential Forum Dec 1, 2007

John Edwards: I was wrong to vote for Bankruptcy Reform Act

DODD: [to Edwards]: Back in 2001 the congress passed I think one of the worst pieces of legislation of all time: the so called the Bankruptcy Reform Act. Senators Clinton, Biden, and Edwards voted for that bill, which drove a lot of people working class families into poverty, & made it very difficult for them to manage their lives & to get back on their feet again. John, you made a big issue of poverty, something you have dedicated your life to. So could you explain to me why you’d vote for a piece of legislation like that which did so much damage to so many families in our country?

EDWARDS: Yeah, I was wrong. I was wrong and you were right Chris. I should not have voted for that bankruptcy bill. It was a bad, bad piece of legislation. I think any of us who voted for it were wrong to have voted for it. I think there were some good provisions in it but I think on the whole when you look it at it actually did damage to low income families and working families in this country.

Source: 2007 Iowa Brown & Black Presidential Forum Dec 1, 2007

Art Small: Set up research facilities instead of trying to pick winners

We ought to question whether the state should directly fund individual companies no matter how promising they may appear to be. It is difficult for the state not to play this investment development game because it seems to have become the established practice for firms to get states to bid for such projects. All states “dangle dollars” today.

Another approach that might be considered is that taken many years ago by North Carolina when it set up its Research Triangle Institute Park. It made no attempt to pick winners. Rather, it made land and facilities available in close proximity to its three major universities and developed an administrative structure that encouraged cooperation between the universities and the Institute’s tenants. Research Triangle Institute changed the economic face of North Carolina. Oakdale Research Park in Coralville has used a similar approach on a much smaller scale. Even that small-scale effort has been quite beneficial.

Source: Op-ed piece in Iowa City Press-Citizen Mar 23, 2004

Howard Dean: Regulation of finance companies is the right track

Q: Do you agree with the idea of cracking down on the credit card companies?

A: I do. I don’t know there’s a lot I could do to improve it, except to say this: that in corporate America today, Bush has turned a blind eye to morality. We have lost our moral compass in this country because what business is doing to ordinary people in America. Bush has run this country for the benefit of corporations. Regulation of those finance companies that you’re talking about is exactly the right track.

Source: Iowa Brown and Black Presidential Forum Jan 11, 2004

  • The above quotations are from State of Iowa Politicians: Archives.
  • Click here for definitions & background information on Corporations.
  • Click here for other issues (main summary page).
2016 Presidential contenders on Corporations:
  Democrats:
Secy.Hillary Clinton(NY)
V.P.Joe Biden(DE)
Gov.Andrew Cuomo(NY)
Mayor Rahm Emanuel(IL)
Gov.Martin O`Malley(MD)

Republicans:
Amb.John Bolton(MD)
Gov.Jeb Bush(FL)
Dr.Ben Carson(MD)
Gov.Chris Christie(NJ)
Sen.Ted Cruz(TX)
Gov.Mike Huckabee(AR)
Gov.Jon Huntsman(UT)
Gov.Bobby Jindal(LA)
Rep.Peter King(NY)
Gov.Sarah Palin(AK)
Sen.Rand Paul(KY)
Gov.Rick Perry(TX)
Sen.Rob Portman(OH)
Secy.Condi Rice(CA)
Sen.Marco Rubio(FL)
Rep.Paul Ryan(WI)
Sen.Rick Santorum(PA)
2016 Third Party Candidates:
Mayor Michael Bloomberg(I-NYC)
Gov.Gary Johnson(L-NM)
Donald Trump(NY)
Gov.Jesse Ventura(I-MN)
Please consider a donation to OnTheIssues.org!
Click for details -- or send donations to:
1770 Mass Ave. #630, Cambridge MA 02140
E-mail: submit@OnTheIssues.org
(We rely on your support!)

Page last updated: Mar 29, 2014