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Hoping to break an impasse, President Barack Obama on Tuesday will extend a new offer to congressional Republicans in which he will back an overhaul of the corporate-tax system in exchange for a guarantee that a resulting one-time windfall be used to underwrite various job-creation proposals
Republicans say Mr. Obama isn't offering much of a compromise. Congressional Republicans have pushed a comprehensive approach to overhauling the tax code that would lower rates for individuals and small businesses, as well as for corporations, while the administration has shown more interest in corporate changes
The offer will be revealed at 2PM, but like WSJ predicts, it will most likely be rejected. It is not the first time GOP rejects cuts to corporate tax rates.
What a load of carp! If they were worried about small businesses they would work to make the code more progressive. The current corporate tax structure hurts small businesses more than large companies because the rates are not linearly progressive and small companies can't transfer profits overseas nearly as easily.
The businesses that remain in the US are medium and small businesses.
The big boys like GE, Boeing, etc. have the ear of the WH and Congress and will not be impacted..these guys never are.
Go ahead and overhaul the corporate tax code. All these multi-nationals will funnel all their money to other countries like they do now.
What we are doing is spending money we don't have and clawing our way to find new sources of revenue.
We need to face the fact that we are spending addicts. We need to cut across the board and take our knocks and make due with what our tax revenue can pay for.
The businesses that remain in the US are medium and small businesses.
The big boys like GE, Boeing, etc. have the ear of the WH and Congress and will not be impacted..these guys never are.
They would they not be impacted by a tax cut?
It is true that large corporations have their way of getting around paying tax, while small and medium companies pay the full rate, but if I am not mistaken the removal of the loop holes would ba a part of the overhaul. Reagan did the same thing. Mitt Romney wanted to the exact same thing.
The businesses that remain in the US are medium and small businesses.
The big boys like GE, Boeing, etc. have the ear of the WH and Congress and will not be impacted..these guys never are.
Go ahead and overhaul the corporate tax code. All these multi-nationals will funnel all their money to other countries like they do now.
What we are doing is spending money we don't have and clawing our way to find new sources of revenue.
We need to face the fact that we are spending addicts. We need to cut across the board and take our knocks and make due with what our tax revenue can pay for.
Yep, I say pass on this farce of a deal. It is simply a ploy that Obama can go out there and call republicans obstructionist. Anyone want to bet this is what Obama does next.
Obama thinks everyone is like his followers, throw a bone or bad deals and they will lap it up.
Hoping to break an impasse, President Barack Obama on Tuesday will extend a new offer to congressional Republicans in which he will back an overhaul of the corporate-tax system in exchange for a guarantee that a resulting one-time windfall be used to underwrite various job-creation proposals
Republicans say Mr. Obama isn't offering much of a compromise. Congressional Republicans have pushed a comprehensive approach to overhauling the tax code that would lower rates for individuals and small businesses, as well as for corporations, while the administration has shown more interest in corporate changes
Obama's idea of fair, raise taxes so he can offer a reduction back in exchange to get his way.
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If they were worried about small businesses they would work to make the code more progressive. The current corporate tax structure hurts small businesses more than large companies because the rates are not linearly progressive and small companies can't transfer profits overseas nearly as easily.
