Because, well, Citibank was stuck paying $0.00 in taxes last year. But a common refrain from from the right is you need to cut taxes so businesses are able to hire more people. Sounds like decent logic. I mean, if taxes are eating into the profits, how can they hire more people, right?
Here is the problem. Companies do not hire people because their profits are higher. It might seem logical, but companies do not simply see an increase in profits and then decide to hire more people. If a company is making more money than last year, they only start to hire more people if they are needing more people. If supporting their customer is becoming troublesome with their current employee base? That is when they choose to hire more people.
And if a company needs more employees to support their customer base? They will not let taxes or even a bad economy stop that. Lowering the taxes a company pays will not cause companies to start hiring. Companies want to maximize their profits-hiring more people takes away from that-especially in a bad economy.
Big business is not needing tax relief. Giving them more money will not result in more people getting jobs. Needing to please their customer base will. Period.