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I take it you are also opposed to corporate tax cuts?
You can't make this up folks.....
If they are across the board....instead of obama picking and choosing which industries "deserve" tax cuts.
This thread is disingenuous because it doesn't explain the meat of the obama plan.
It's like calling a bill the "Save the kittens bill" but includes euthanizing pregnant cats to limit the number of kittens. If someone were to vote NO on the law, dummies would be out there saying "so-and-so hates kittens!".
That is the method that the left has been using for decades.....depending on the ignorance of the masses to garner support for bills like the "affordable care act". Which, in fact, is NOT affordable.
thats the idea. Lower the rates for everyone, and remove the loopholes which benefit only the few. Reagan did the same thing and it did indeed result in some corporations paying more. In today's world we have some corporations who do not pay any tax at all because of all the loopholes, and at the same time many others pay the highest rates in he world.
What loopholes only benefit a select few people? Which specific ones are you thinking of that you or I couldn't take advantage of as well?
Also, how on earth it is a compromise by Obama if the effective tax rate of corporations rises as a result of his 'deal'? All this is is another backhanded way to try and raises the effective tax rate
What loopholes only benefit a select few people? Which specific ones are you thinking of that you or I couldn't take advantage of as well?
Also, how on earth it is a compromise by Obama if the effective tax rate of corporations rises as a result of his 'deal'? All this is is another backhanded way to try and raises the effective tax rate
I posed that same question yesterday..no answer.
Those are the talking points Obama said in his speech.
Of course there are no "details"..just generalities.
"Close the loopholes that benefit the very rich".
Ok, exactly what are those loopholes ?
"Close the loopholes that benefit the very rich".
Obama has been going after those greedy CEOs for 4.5 years now.
He hasn't got them yet but seems to grab everyone else instead.
You do realize that obama had Jeffrey Immelt as his lead "jobs czar".
In case you don't know, he was the CEO of GE.
GM also paid zero federal taxes....obama saved GM, er, used OUR tax dollars illegally to bail them out to the tune of $50 BILLION DOLLARS!
Remember this...."GM is alive and Bin Laden is dead!"?
Lefties are so damned intellectually dishonest that it makes me sick!
Government made the very tax laws that businesses use, and complain when they are beaten at their own game.
A) Claiming that the GM bailout was "illegal" lowers your credibility. There was nothing illegal about it.
B) Whether Jeffrey Immelt is an Obama corporate adviser is irrelevant. Warren Buffett benefits from the hedge fund loophole and wants it eliminated. People often sacrifice personal interest for national good all the time. If we only cared about our own self-interest and not patriotism, we couldn't get volunteers to risk their lives in the military.
C) Those are among the loopholes that Obama wants to close. The offshore tax loophole cost the U.S. Treasury $90 billion a year.
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
So, it seems like Obama DOES recognize that reducing corporate tax rates will result in an INCREASE in revenues. Which of course he sees as an excuse to go buy votes, rather than put towards balancing the budget, but that's another story. What happened to the liberal whine that reducing tax rates costs the government money? (never mind that it isn't their money to start with)
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