A Message From Our Friends At Tertium Quids

After indicating all session that he supported the elimination of the corporate income tax, Speaker Howell yesterday, with only 24-hours to go before crossover, said that HB 119 was not being brought up for a vote because he “was waiting for a signal [of support] from the Governor’s office.” Of course, that matter could have been resolved at any time during the first six weeks of this year. The fact that it was not indicates that Howell was never truly on board to begin with.

After watching the Speaker’s ineffectual “leadership” since the day he rose to that position, it would be absurd to assume he has suddenly become more talented based upon an Obama-driven resurgence of Republican fortunes.

The Speaker has been too cute by half and he must understand that in today’s environment of grassroots activism there is a price to be paid for such double-dealing.

The Governor also needs to understand that we are not interested in his Obama-like, and Obama-lite, “Jobs and Opportunity Agenda.” Virginia needs to create jobs and attract business to this commonwealth by maintaining a low-tax, low-regulatory environment for all instead of some of the more touchie-feelie notions being forwarded today like bringing “green jobs” to Virginia or offering tax credits to the motion picture industry. What kind of bribe are Virginia taxpayers going to have to pay so that Lt. Gov. Bill Bolling, Sen. Louise Lucas, and Del. Ben Cline can have a photo-op with Sissy Spacek?

Please make two phone calls today to the Speaker’s office and to the Governor’s office to express your displeasure with the lack of action on HB 119, the elimination of Virginia’s corporate income tax.

In the current fiscal environment, we expect serious action by serious-minded legislators and Governors. Call early and often. They need to know we’re watching and that we are not amused.

Speaker Bill Howell (804) 698-1028

Governor Bob McDonnell (804) 786-2211, ext. 0 or 6

Morning Radio: You Should Listen

Norman Leahy from Tertium Quids is hosting WRVA's morning show. Should make for a good ride to the shipyard in the morning.

So tomorrow's the big day, when I guest host WRVA's morning show from 5AM to 9 AM while that Richmond institution, Jimmy Barrett, gets some well-deserved time off.

While there's plenty of normal news radio fare -- headlines, weather, sports and traffic -- there are a few opportunities for guests to appear.

Here's who I have on tap for tomorrow morning...

Dr. Bob Holsworth, Richmond's resident political sage and publisher of Virginia Tomorrow.

Dr. Adam Schaeffer, a Virginia Institute senior fellow in education reform and a Cato Institute policy analyst.

Dr. Ron Utt, an Virginia Institute adjunct fellow, a senior research fellow at the Heritage Foundation, and a member of Bob McDonnell's transition team.

Stephen Moore, the senior economics writer for the Wall Street Journal and former president of the Club for Growth.

Ken Cuccinelli, Virginia's Attorney General.

Dr. Pat Michaels, the former Virginia climatologist, a distinguished senior fellow at George Mason University and a senior fellow at the Cato Institute.

If you're inclined to do so, the live, online stream can be heard here, though I am told that when conditions are just right, the signal can be heard, clearly, as far away as Cleveland.

For the record, in the winter of 1966, the car I was riding in picked up the WRVA signal north of Marlette, Michigan.

Why Eliminate the Corporate Income Tax?

H/T John Taylor at TertiumQuids

Three reasons:

1) Corporations don't pay taxes, they collect them. The taxes they pay are collected from their consumers.

2) There are many states (California, Oregon, Michigan, New York, Rhode Island, New Jersey just to name a few) that are losing their business base as fast as companies can relocate their headquarters. Apparently, the politicians in those states do not understand the well-chronicled history of people and businesses voting with their feet by leaving high-tax jurisdictions for low-tax jurisdictions. Virginia should be contacting Google, Cisco Systems, Apple, etc. with the good news that we just eliminated our corporate income tax and that Virginia is a business friendly place to bring jobs.

3) The U.S. has the second highest corporate tax rate in the world among the developed countries . As long as we do, we will continue to watch our jobs go overseas. This is the inevitable and foreseeable consequence of really stupid tax policy. If we continue the insanity of taxing productive activity and organizations that provide jobs, we will continue to see less of both.

Eliminate the Corporate Tax

H/T Tertium Quids

Elimination of corporate income tax
HB 119 Income tax, corporate; eliminates State tax for taxable years on and after January 1, 2010. Harry R. Purkey

Eliminates Virginia's corporate income tax for taxable years beginning on and after January 1, 2010.Status:
01/05/10 House: Referred to Committee on Finance
01/19/10 House: Assigned Finance sub: #2
This subcommittee usually meets Wednesdays 1/2 hour after adjournment in House Room D.

Jeff Frederick Should Be The Chairman

Every day, individuals who accept the final responsibility for the structural integrity of a building, rely on me to provide them with the information necessary to make that decision.
They trust my judgement, my experience and my integrity.

With politics, I have people I trust that tell me what I need to know to make an informed decision because I can't keep up with everything. I trust their judgement, their experience and their integrity.

This group includes politicians, lobbyists and grass-roots activists, the "real" ones, the ones on the front line. They range in age from early 20's to late 60's. College students, aides, retired military, and average Americans.

Based on what I've been told, Del Frederick is the man for the job.

I would like to repectfully request that Del Frederick consider re-applying for the position of Chairman of the RPV.