Corporate tax cheats and the taxpayers they employ…

There is some energy out there over the great corporate tax theft. The big four that are being focused on are Bank of America,CitiGroup,General Electric and Verizon.

I readily concede there is something seriously wrong with the US tax codes. Contrary to the beliefs some want to preach this isn’t necessarily a progressive platform position. Many on the Right have for a long time championed a simplification of the US Tax Code. The Left in their infinite wisdom all too often think if you just tax the folks that have money it will all be good.

Well for the former they continue to fail at that. Let’s cut it out and get down to it. As far as corporations are concerned there is a simple solution. Lower the corporate tax rate (35+%) to at least the level of our northern neighbor,Canada.(18%)

As for the latter if you think going after the profits of private companies to the tune of 35-39% is a good idea I invite you to apply for the job of telling a chunk of the following why they have lost their jobs and are no longer taxpayers. The chunk would come from:

288,000 folks Bank of America employs in the USA

133,000 employed by GE in the USA

210,000 people Verizon employs in the USA

There is a solution and it isn’t the status quo of an overly complicated tax code or the scorched earth policy of class envy and burdensome taxation.

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4 Comments

  1. Tex Taylor says:

    Excellent suggestions Alfie.

    I will never understand why many Americans can’t grasp why simplifying the tax code should not be the first thing on the list of ‘to do’. It cost billions of dollars just to administer the tax code for starters. That may benefit CPAs, but no one else. Worse, it lets corporations play politics when they should be a neutral entity.

    Second, American corporations have the second highest tax rate of the industrialized world. Our productivity is not a great enough advantage anymore to offset this monetary penalty. Japan has the highest corporate tax rate in the world and their economy has been stagnant for 20 years. You think the light bulb might come on why companies are moving their services and manufacturing overseas – but then Libs are a stupid people. 🙂

  2. El Tigre says:

    But you ignore the legions of professionals that thrive on an overly complex tax code. It is itself a jobs program.

  3. Hucking Fypocrites says:

    “You think the light bulb might come on why companies are moving their services and manufacturing overseas – but then Libs are a stupid people.”

    It’s easier for them to just blame Wal-Mart.

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