GE posts a 77% increase in its Q1 earnings and apparently, paid no corporate taxes in 2010. You see, it doesn't matter what the tax rates are -- corporate tax rates are currently 35% -- because wealthy and connected companies and individuals will always find the loopholes to avoid paying what our president often refers to as "their fair share".
So, please remember that the conversation about taxes shouldn't be about raising the rates on "the rich" -- it should be about lowering tax rates for everyone, closing loopholes and simplifying the tax code. That is how to protect the middle class and ensure that everyone pays their fair share. Unfortunately, it's also an honest and straightforward way of dealing with the issue, so the government will be very reluctant to do it. Big Business will also be reluctant because they like their funky, little tax breaks and Big Government likes using those loopholes as bargaining chips when it comes time for favors and political donations.
No comments:
Post a Comment