Quote:
Originally Posted by classicman
I believe we need to severely reduce the corporate tax rate from the current 35% and eliminate a lot of the loopholes.
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Extremists always hype that 35% tax rate. Forget to mention what most of the Fortune 500 actually pays. Somewhere about 7%. Many (ie GE) have been paying no taxes. GE will pay no taxes this year. Previously posted were so many large companies who pay no taxes over many years.
Yes, loopholes are a problem. But those promoting a corporate tax reduction always forget that part so that the rich will keep getting richer.
The average American from 2000 to 2008 saw his income drop 2%. And then the resulting recession hit. A recession created by mismanagement such as tax cuts and other money games. And made even worse by tax laws intended only to enrich the elite at the expense of people who actually create jobs.
Routine is for major companies to pay little or zero taxes. We have the laws that will happen when we elect political extremists - not the pragmatists and moderates.
Appreciate how dumb the Democratic Party was. Because those extremists would not even cooperate with Obama, then most moderate Democrats lost their elections. Left were only extremist Democrats to deal with a Republican party already dominated by extremists. Lies about taxes - the 35% corporate tax rate - is simply another example of what extremists do to enrich themselves at the expense of America.