CBO Shows Obama Budget Produces Even More Staggering Spending......

[MMC]

Moreover, cutting corporate tax rates would create two new problems. First, further reductions in federal budgets would directly undermine America's competitiveness. (After 20-plus years of tax cuts, there's little "fat" left to excise.) For example, federal belt-tightening has led states to slash support for higher education. College tuition has skyrocketed, far outpacing family income. Today's college students struggle to get the education they need to hold well-paying technical jobs, and many must take on massive debt to pay their tuition.

The second problem: The corporate income tax does not affect all businesses equally. Large corporations pay much [COLOR=#005497 !important][COLOR=#005497 !important]lower [COLOR=#005497 !important]tax [/COLOR][COLOR=#005497 !important]rates[/COLOR][/COLOR][/COLOR] than small businesses, because they can exploit loopholes and establish offshore operations. However, small businesses provide more new private sector jobs, and function as the main employers in many parts of the country. Further, the tax code shields old industries at the expense of new more innovative sectors, and it protects industries that burden the rest of society. Why should we subsidize oil rather than renewable energy? Why should we subsidize corn syrup that promotes obesity and drives up healthcare costs?

\The problem with the corporate tax code is not what many think. Frankly, we can change the nominal tax rate to practically anything. It doesn't matter since hardly any corporations pay the nominal rate. What matters is this: Bring up the real tax rate (what companies actually pay) to support needed investments in productivity and competitiveness. Stop penalizing small business. And, end the gimmicks and loopholes that encourage investment in damaging business practices and obsolete industries.....snip~

http://www.usnews.com/opinion/blogs/...rate-tax-rates

[MMC]

As you can see if the Media is not allowed to decieve those of the actual numbers and as to what is taking place. Then no politicans can be walking out trying to spin some other story.

[Mainecoons]

Business should pay no income taxes. Taxes simply make them less competitive and raise costs to consumers. Businesses don't pay taxes, their customers do.

Only earnings that leave the country should be taxed directly. All other earnings should be taxed straight up at the owner/stockholder level. As it stands now, the U.S. now has the highest corporate tax rate in the world, leading to very disparate treatment for the reasons explained by MMC above.

Public corporations should have limits both on retained earnings and on executive pay in the corporate legal code. And there's no reason why the capital gains tax rate can't return to 20 percent, there's no evidence that the last capital gains tax cut, unlike the previous one from 28 to 20, really stimulated much of anything.

The U.S. is already at a very large cost disadvantage with places like China. Allowing the earnings of our companies to be taxed only once, instead of twice as now (corporate tax plus dividend tax) would give them a major leg up in the world marketplace. As part of this reform, dividends should be treated as ordinary income and taxed at the corresponding rates.

[Alias]

Oh my, another racist.

http://www.cnbc.com/id/47035575