Congressman: What we spend on low income subsidies makes my stomach churn.
The Republicans want to remove regulations on corporations, and lower their tax rates.
Under our present system, prior to the above, G.E. made $14.2 billion in income in 2010 but paid no U.S. corporate income tax. Moreover, it claimed a tax benefit of $3.2 billion.
Given the claimed 35% corporate tax rate, that means a loss to the U.S.A. of over 8 BILLION DOLLARS…just in ONE year, from just ONE corporation.
How much are the Republicans going to save us by defunding NPR?
“NPR receives about $90 million in federal funding annually, but the Congressional Budget Office calculated that the net savings from defunding the network would be zero.”
(Read more at the Washington Examiner: http://washingtonexaminer.com/politics/congress/2011/03/house-votes-cut-npr-funding#ixzz1IDbjx6wS)
Let’s ignore the wisdom of the Congressional Budget Office, and pretend defunding NPR would save us 90 million dollars a year.
That’s about 1% of what G.E. alone would have supplied if they’d paid the 35% tax rate that the Republicans keep telling us is too high.
Republicans should be ashamed of their representatives.
April 12, 2017
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