Isn't the definition of insanity repeating the same action over and over and expecting a different result?
Cutting taxes an additional 10% for the rich and for corporations is apparently all a part of the plan to, ya' know, get serious about cutting the deficit and creating jobs.
Congressman Dave Camp (R-MI), the chairman of the House Ways and Means Committee, said he hopes to cut the tax rate for the richest individuals and corporations to 25 percent to help spur job growth.
The top U.S. tax rate has been 35 percent for both individuals and corporations since 2001, when President George W. Bush pushed for tax cuts. The previous rate, which President Barack Obama has proposed the US returns to, was 39.6 percent.
"There is no doubt that today’s tax code is too complex, too costly and takes too much time to comply with," Rep. Camp, who heads the House committee charged with writing tax legislation, said in a statement. "Add to that the unpleasant reality that America will soon have the highest corporate tax rate in the world, and it is no wonder that the current economic recovery has been far more muted than in past recoveries."
The tax code is too complex, costly, and takes too much time to comply with? That must be why so many corporations dodge a majority of or pay no taxes at all. It's just too hard. And they never liked doing it anyway, so they're just not going to do it anymore.
Dear Americans -- please vote in the next election.