But the wealthy need the extra income provided by the tax cuts to create jobs, you understand. Just think of the labor required to build that helicopter.
so what’s the next trend? I think golf with Boner should be in order. Or perhaps the RNC debates. Perhaps the serious candidates with the wingnuts locked outside the gates. You betcha!
Why do you think corporations move out of states? Because the states have raised the taxes so high that it is better to move over the border. to Texas or Nevada or wherever.
The top corporate tax rate is 35% but, owing to exemptions and loopholes, our corporations actually pay less than the international average of 22%. The biggest, such as IBM, Microsoft, Exxon, and GE get exemptions that bring their taxes down to about 11% of their earnings.
A small business, unable to qualify for the big Federal exemptions, might well find additional state taxation intolerable. What really breaks its back, though, is having to pay top Federal rates so its megasize competitors (who usually pay NO state or local taxes to a foreign govt.) can be relieved of paying their fair share.
These tax exemptions, by the way, are known in budget jargon as “tax expenditures.” When a Teapublican demands that we cut expenditures, s/he always overlooks these unfair tax expenditures (Obama calls them “loopholes”) because, s/he confusingly argues, plugging loopholes would result in higher taxes!
You are right Alabama Al. Now I just wonder how many people it takes to build the ten or fifteen of those private helicopters they sell every year (or maybe just in good years). Probably not too many people.
Vista Bill Raley and Comet™ almost 13 years ago
Billionaire’s have problems, too!
rayannina almost 13 years ago
Another rerun? Booooooooo-riiiiiiiiing!
Alabama Al almost 13 years ago
But the wealthy need the extra income provided by the tax cuts to create jobs, you understand. Just think of the labor required to build that helicopter.
Potrzebie almost 13 years ago
so what’s the next trend? I think golf with Boner should be in order. Or perhaps the RNC debates. Perhaps the serious candidates with the wingnuts locked outside the gates. You betcha!
cheesehead almost 13 years ago
Oh … not Jimmy?
odeliasimone almost 13 years ago
Because our beloved country has too high of corporate taxes!!!!!
odeliasimone almost 13 years ago
Why do you think corporations move out of states? Because the states have raised the taxes so high that it is better to move over the border. to Texas or Nevada or wherever.
rotts almost 13 years ago
No apostrophe on plural of billionaire, Vista Bill!
WaitingMan almost 13 years ago
Summertime, and the livin’ is easy.
Michael McKown Premium Member almost 13 years ago
I see Garry is on vacation.
cdhaley almost 13 years ago
@Lingeewhiz (assuming you care about the facts)
The top corporate tax rate is 35% but, owing to exemptions and loopholes, our corporations actually pay less than the international average of 22%. The biggest, such as IBM, Microsoft, Exxon, and GE get exemptions that bring their taxes down to about 11% of their earnings.
A small business, unable to qualify for the big Federal exemptions, might well find additional state taxation intolerable. What really breaks its back, though, is having to pay top Federal rates so its megasize competitors (who usually pay NO state or local taxes to a foreign govt.) can be relieved of paying their fair share.
These tax exemptions, by the way, are known in budget jargon as “tax expenditures.” When a Teapublican demands that we cut expenditures, s/he always overlooks these unfair tax expenditures (Obama calls them “loopholes”) because, s/he confusingly argues, plugging loopholes would result in higher taxes!
TexTech almost 13 years ago
You are right Alabama Al. Now I just wonder how many people it takes to build the ten or fifteen of those private helicopters they sell every year (or maybe just in good years). Probably not too many people.
FriscoLou almost 13 years ago
If you back off on the logic pd it doesn’t sound so frustrating.