obama-lower corp. tax

[Danzig]

http://www.msnbc.msn.com/id/46476720...ew_york_times/


geithner wanted to re-write tax code, but never got the chance-and won't since he's not staying after this year, regardless of election.

i still remember that obama said the economy was his first priority-this should have been part of that all along. instead he derailed himself by jumping with both feet on medical, giving us a mess of a law. after that, what domestic changes have been wrought? none. still passing along bush 'tax cuts', and then going on the road to complain about what? bush tax cuts. note what fact check has to say about his fave line these days, that bush cuts to the wealthy are causing us to spend a trillion dollars...

also, as was told to us yesterday...if the supreme court for some odd reason decides that ppuca passes the constitutional test (they'll only be able to do so by invoking interstate commerce and that will be a stretch and a complete joke to say that covers the ind. mandate) then the rest of the election cycle will be mostly about what? economy? nope. wars? probably not.
it'll be health care. about what will be done. and something has to be done.

entitlements and the military-draining our treasury. this 'pro-military' person is one of the few on this board that says we are spending far, far too much on our 'defense'. if it were smaller, it would force the presidents now and in future to be far more careful about where they decide we should go militarily.
and our entitlement spending is only expected to rise dramatically, with future generations having to pay more and more to take care of those who came before.

There won't be serious cuts in defense spending until the voters start researching candidates and not relying on Anderson Cooper, Richie Maddow, and Bill O'Reilly for their polisci knowledge.

So never. Americans are stupid and the powers that be like it that way.

[geeker2]

Originally Posted by Coach Pants

There won't be serious cuts in defense spending until the voters start researching candidates and not relying on Anderson Cooper, Richie Maddow, and Bill O'Reilly for their polisci knowledge.

So never. Americans are stupid and the powers that be like it that way.

Most just don't give a sh^t

[Antitrust32]

Originally Posted by Danzig

http://www.msnbc.msn.com/id/46476720...ew_york_times/


i still remember that obama said the economy was his first priority-this should have been part of that all along. instead he derailed himself by jumping with both feet on medical, giving us a mess of a law. after that, what domestic changes have been wrought? none. still passing along bush 'tax cuts', and then going on the road to complain about what? bush tax cuts. note what fact check has to say about his fave line these days, that bush cuts to the wealthy are causing us to spend a trillion dollars...
.

It bugs the crap out of me when people, or the president, refer to the Bush tax cuts. I'm sorry... but who is the last president to pass these cuts? Obama maybe? Anyone, including the President, who uses the term Bush tax cuts to describe our current tax code does not live in reality. they are completely bipartisan tax cuts. Passed by republican led, and democrat led congress's and by both Presidents.

[Clip-Clop]

Lowering the tax rate by 7% while proposing to tax twice as much income is not really lowering the tax rate.

[Danzig]

our tax codes do need revamping. they haven't been touched in how long? they are a dinosaur!

[Danzig]

http://www.nytimes.com/2012/02/23/op...mentsContainer

While the administration insists that business tax reform should not add to the deficit, the country needs to raise more revenue to care for an aging population, rebuild infrastructure, improve education and tackle the deficit. Corporations, which benefit from all of those, should, as a matter of necessity and fairness, pay more.

Our other concern is that like all tax reform, the potential for gaming the process is ever present and unless it is vigilantly managed could actually reduce revenue and add to the deficit.

[Riot]

"Lower and broaden the tax rate, while eliminating loopholes, will make the tax system more fair!"

This is the promise of every current Republican candidate, and has long been the war cry of the entire Republican party.

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

[dellinger63]

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.