Economy

Taxed Enough Already!

Or maybe not.

The U.S. actually has the second lowest corporate income taxes among first-world industrialized nations.

If you listen to the Republicans, you may believe the United States has the highest corporate income taxes in the world.

That may actually be true if it weren't for the countless number of loopholes corporations use to avoid paying the majority of their taxes or, in some cases, pay no taxes at all. And according to Republican tax-cut magician Paul Ryan, the only way they would agree to closing some of those loopholes is if they are offset by tax-cuts in other areas. This is what he calls being "revenue neutral."

  • trgahan

    You have to hand it to the Republicans; they know how to achieve power. In 2008, we had just gone through 8 years of the most authoritarian presidencies in modern history; the economy was crashing; our world image was in the toilet; our citizenry crying for change; and a progressive majority existed in the federal government. It was a moment where significant reform could have happened. But by 2009, what was blamed on illegal behavior by financial sector became about teachers unions and the social safety net. What became a moment of sorely needed infrastructure investment and new energy resource development became about deficit spending, tax rates, “drill baby drill” and inflation worries. Those who were responsible got away and those who have been the target of American conservatives are on the defensive like never before.
    All because in 2010, conservatives ran on a “hate and fear” platform and progressives stayed home to “teach progressive representatives a lesson.” Some people think 2008 was a historic in US history; I’d say the historians are going to mark 2010 as a bigger moment. It will be remembered as a moment when we could have gone down a very different path. But we proved too scared and arrogant to do it.

  • mrbrink

    The Bush tax cuts and corporate tax rates have failed America.

    Hear that, Mitt?

    It’s well passed time to let them go.

    U.S. based Corporations are doing very well– and they’ve been hoarding almost all the growth in national wealth and have been busy using that wealth to buy more wealth and more political power.

    This is the failed experiment in trickle down– in plain view, before our eyes, and these very simple facts are the single biggest contributor debunking the idea that we should allow corporations to take even more wealth and consolidate even more power from a divided and demoralized American labor force.

    And while wages have been purposefully stagnant, that is, kept artificially low on purpose, worker productivity is up– squeezing an overworked and stressed out workforce to the point where they don’t have time to enjoy living in what is supposed to be the greatest country on earth. We’re mired in personal debt, attacked in the fine print by predator bankers, over charged for healthcare, poisoned with lead, asbestos, and chemical food additives, and when it becomes too much to bear, we get prescriptions to battle the depression, or the sleeping disorders, or the collective morbid obesity.

    They’ve been abusing the environment like an alien machine extracting outdated resources and passing on the costs to the populace at large, or hidden cost deferments. Cancers, respiratory disease, mercury poisoning, autism.

    Mother’s milk has been synthesized by corporations with a vested interest eliminating the competition.

    But in an ironic “fuck-you” to freedom and democracy for all, U.S. based corporations are actually in corporate-union-solidarity with the U.S. Chamber of Commerce organizing phony grassroots campaigns to trample on the rights of those who see the injustice in all this greed and trickle down sickness.

    It’s not the stimulus, it’s not “Obama’s anti-business policies,” or his “hostility toward business,” or his anti-colonial kenyan socialism, or his “hatred of white people.”

    Corporations hoarding national wealth, freezing wages, consolidating power among the union of multi-national corporations while running our infrastructure and idea of justice into the ground is what is failing America.

    The Republican party, rather than blaming the president for the abject failures of conservative-minded policies, would be better human beings if they started lobbying their small minority of wealthy benefactors and corporate union constituents to begin paying their workers more. Hiring more. Spurring demand– the driver of the economy– and it’s not only the patriotic thing to do(a revelation to flag pin wearing enemies of founding principles)it’s the smart and equitable business thing to do.

    • incredulous72

      We are becoming a feudal nation.
      Hope we can change course.

    • muselet

      You are, of course, correct. Now you just have to convince people like this charming gentleman, a regular contributor of nonsense to my local fishwrap. (Oh, he’s really a doctor, by the way. A urologist. Sometimes the jokes write themselves.)

      –alopecia

      • incredulous72

        WOW, Al. Just . . . wow.

        All that education behind Dr. Polito and he still has shit for brains.

        • muselet

          There are lots of well-educated fools out there in the world.

          –alopecia

      • mrbrink

        If by Einstein’s definition of insane he means having to placate right wing crazy people who think tax cuts for the wealthy stimulate demand, then okay.

        I think it’s crazy, too.

        Essentially, the good Doctor is in agreement. Not what I’d call a master debater, and if he’s going to be reaching around in the dark for point, he should keep his pencil sharpened.

        I recently read a little letter just like that in the paper that said, “it was a Republican who freed the slaves!”

        How far they’ve journeyed, Alopecia.

        • muselet

          Once a week or so, I swear to myself I’ll stop reading letters to the editor, and not just in the local rag. The letters in the LA Dog Trainer are, if anything, worse. The inanity makes me want to tear out what’s left of my hair.

          But I keep reading the damned things. It’s my window into the Bizarro World the Right has constructed, where tax cuts pay for themselves, the rich are terribly put upon by their lessers, the climate isn’t changing, and the Democrats are responsible for all the ills plaguing the nation—easier than going to NRO or Red State and I don’t have to worry about malware.

          Abraham Lincoln would weep if he saw what’s become of the Republican Party.

          –alopecia

        • MrDHalen

          America is on the verge of becoming a true melting pot of diversity, but there are a lot of people who are unhappy about it and many who seek to profit off them.

          I don’t see all crazy in Republican behavior, but I do see people willing to deconstruct their country before they have to actually share it with people who don’t look like them.

          We will get through these times, but what will be the total cost and what will we be left for our children?