This is just insanity. We're still cutting taxes? We're still giving corporate benefits to the wealthy? The mantra that this "creates jobs" is gutted by a simple look at at a chart with both tax cuts and income disparity shown.

Seems kind of convoluted.

A tax cut for a "commitment" to a "program" to create jobs.

Businesses can already write off salaries on their taxes.

If you want to encourage more hiring, then how about letting companies write off say 120%-200% of an employee's fully loaded cost up to a certain amount, say $100,000 (this encourages them to hire more people, rather than give it all to one guy).
Worthless unless they eliminate corporate tax breaks and subsidies.
We're still getting the bill for two wars that the rich were exempted from paying for by Republicans. And now we are faced with a growing housing bubble that looks suspiciously like the previous one.
In the short- to mid-run, we could fail to collect taxes at all, let alone a "proper" amount on any one segment.

Getting jobs back on track is an important part of maintaining and sustaining this recovery.

Further, it's the lower rungs that tend to be hurt worst and recover slowest from these recessions, causing them to lose ground.

It's also true that the published tax rates are almost meaningless given our current code, and the effective tax on the rich bears so little resemblance to it that it's hard to believe they're related.

So, we need the fix now and the give is just playing on the margins in a system that needs some big changes long-term.
I'm fine with cutting corporate tax rates if the loopholes that let almost all corporations avoid paying them are plugged. The effective rate is what matters, not the nominal one. Our nominal corporate rate is extremely high by international standards, but the amount we collect from it is low.

But ultimately, corporate taxes are a waste of time. We should be taxing rich people, not companies. Corporate profits that are reinvested in the business are a good thing, not a bad thing.

Don't corporations not pay taxes on the amount they reinvest in the company? I thought that was a big factor, back in the day, for the Christmas bonus. Corporations weren't trying to be nice, they were trying to offload profit onto their employees before the end of the year.

It seems to me that letting corporations get away with paying effectively zero taxes means that they're *less* likely to reinvest that money in the company, not more.

Or how about this? Corporations pay a punishing tax rate on the money they're hoarding and not spending.
Don't worry, the Republicans won't take a bargain that's touched a black Democrat's hands.

Please wait...

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