Quote:
Originally Posted by PIMking
Yet a guy on Obama's cabinet didn't pay a single dime in taxes last year, something like 300 million worth.
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You do realize I did say
corporate tax right?
The entire tax system in the US is broken. Especially when you have guys like that who can get away without paying a single dime in taxes. Another one that I find kind of amazing is
Bruce Springsteen & Bon Jovi receiving farm aid. As a tax practitioner in the US I know the loopholes exist and I don't fault the people for using them after all who wouldn't.
For all the people who say just raise the rate I think they are looking at the US tax code in too simplified of a manner. What really needs to be done is that they need an overhaul of the tax code in the US.
Personally I think Harper has the right idea in Canada. When you lower the corporate rate you attract businesses which in turn creates jobs.
That kind of leads into another problem that exists for businesses in the US. When companies like
Boeing have the NLRB (National Labor Relations Board) trying to stop the opening of a new Boeing Plant in a more competitive state it just isn't good for attracting any new business operations into the US.