Quote:
Originally Posted by Riot
Obama just offered to do exactly that, with zero net revenue changes (also a Republican demand) with a corporate tax rate.
Let the attacks on Obama by the right - for doing exactly what they want to do - begin   |
This President seems to have conveniently ignored that small businesses employ well over 90% of the U.S. workforce and their respective owners file taxes individually far more than corporately. Thus few small business owners will realize any relief from a corporate tax rate reduction and to the contrary those making above $250K need to loosen up and practice bending over compensating for the proposed corporate break.
Even the hibernating Occupiers should be re-ignited by yet another needless, selective gift awarded to large corporations on the heals of all the bailouts given to GM, all the mortgage companies, all the big banks, all facilitated and at the expense of future individual taxpayers.
While we’re supposed to somehow open wide and swallow a GM profit of $7 billion in the face of a taxpayer liability of $27 billion as a model of success, and keeping in step with his misguided, biased, failed energy policy; we’re being told oil companies will be excluded from any corporate rate reduction therefore ensuring higher fuel prices and consequently higher prices on virtually everything we as individuals purchase and consume.
I suggest if the President is dead set on rewarding large corporations and their unions he do so by aggressively pursuing China and other countries for patent infringements and producing counterfeit products. Maybe in lieu of tying up U.S. Attorneys suing the State of Arizona for trying to aid a failing INS, we could reassign them to more meaningful matters?
And should he need to punish oil companies, call their bluff, allow them to drill and prove how grossly they overestimated new jobs and profits. Not to mention new towns and all that comes with them. Show them how hard it is to make it and shut the Solyndra detractors up for good. LOL
Bottom line is reducing the corporate tax visa vis raising individual tax rates especially when considering small businesses, who usually file individually and employ the vast majority of the U.S. workforce exposes this plan for what it is; another quid pro quo payoff courtesy of the U.S. taxpayer. This must be part of the ‘transparency’ that was promised.
On the bright side, the President is dangerously close to a spending pace that would require him requesting another debt ceiling raise above $16 trillion before next November. With his false bravado, taking credit for record oil production, exposed, gas prices at $5 bucks and the U.S. debt having grown four times the pace set by W, we may be in the midst of the Perfect Storm.