Republican Party on Corporations

Party Platform

FactCheck: Obama didn't say "you didn't build that"

The RNC Chairman announced the theme for Tuesday would be "We Built It," and that they would remind their audience of a clumsy quote from Obama that they've been taking out of context ever since he said it.

Obama did utter the words 'You didn't build that,' but the full context of his remarks makes it clear he was saying taxpayer-funded public support "gave you some help" to succeed in business.

Obama, July 13: "If you were successful, somebody along the line gave you some help. There was a great teacher somewhere in your life. Somebody invested in roads & bridges. If you've got a business--you didn't build that. Somebody else made that happen.."

The Obama campaign says the word "that" in the phrase "you didn't build that" refers to roads and bridges [but the clumsy grammar allows for misinterpretation]. There is no room for misinterpretation, however, in Obama's summary statement: "When we succeed, we succeed because of our individual initiative, but also because we do things together."

Source: FactCheck.org on 2012 Republican National Convention , Aug 30, 2012

World's highest corporate tax rate cripples job creation

American businesses now face the world's highest corporate tax rate. It reduces their worldwide competitiveness, encourages corporations to move overseas, lessens investment, cripples job creation, lowers U.S. wages, and fosters the avoidance of tax liability-without actually increasing tax revenues. To level the international playing field, and to spur job creation here at home, we call for a reduction of the corporate rate to keep U.S. corporations competitive internationally, with a permanent research and development tax credit, and a repeal of the corporate alternative minimum tax. We also support the recommendation of the National Commission on Fiscal Responsibility and Reform, as well as the current President's Export Council, to switch to a territorial system of corporate taxation, so that profits earned and taxed abroad may be repatriated for job-creating investment here at home without additional penalty. Source: 2012 Republican Party Platform , Aug 27, 2012

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