So the President wants to CUT the corporate tax rate from 35% to 28% (25% for manufacturing corporations). Yes that’s just what we need, tax relief for the same sector of the economy which is sitting on cash reserves of $ 600 – 800 BILLION, which is enjoying the GREATEST return on capital in the history of the country, which already pays a lower proportion of taxes than cab drivers, waitresses or janitors.
What will they do with the tax cut? Most likely, what they already do — sky-high CEO compensation, buying out more companies, sending more cash overseas.
How about a tax cut for WORKING PEOPLE !?! The fact is that the Income Tax as originally established wasn’t supposed to tax the average working stiff but rather those with incomes exceeding that necessary to get by. If we increase the exemption to $ 30,000 per worker ($ 60,000 per couple), we would release a flood of money which middle-class working-class folks would pump back into the economy. It wouldn’t end up in a Swiss Account. This would be a far greater stimulus to the ecomomy than handing out even more cash to the monied elite.
Gee, if we ONLY had a Democrat in the White House. Oh, yeah, we do . . . sort of.
