BigTigerMike posted a wonderful article last night on the same subject. Maybe he can link it to yours. <
In the interim, just for you, given your wonderful comment,
"And don't forget Piper Palin for President in 2032. It's never too early!"
You got it my FRiend.
She is about reform. Period.
No one else is that radical. But, she has the gift of connecting with the working class. We’re not afraid of what she proposes because it rings true.
Sarah Palin all the way to the White House!
If she runs we’ll be there 100% in support.
If I remember right initially all of the taxes in this country were corporate and none individual. Hence, the original Tea Party. How are these corporate taxes replaced. I completely agree with Palin’s logic but there is a interim from action to completion. Maybe it doesn’t matter in our deficit universe.
Palin rocks!
God sent this woman to us.....she is the ONLY one that can save us from another 4 years of Obama. Yes RINO Perry and other establishment candidates and leaders don’t want her as President but that is what her vocation is.
Thanks for the post! I like the plan and no one else has the balls to do it.
I love it!
But when you compare what some of the biggest companies pay in taxes vs what they pay their CEOs, we’re virtually at zero effective tax rate already:
http://www.vnnforum.com/showthread.php?p=1314551
However this doesn’t reflect the thousands of smaller companies who pay corporate taxes who would all benefit under Gov. Palins plan. It just really shows the inequity and ability to manipulate the present system.
Bump for later reading.
PING to MN_Mike’s column.
I have been advocating this for quite a while. This would be the cornerstone of an economic boom for this country.
As most if not all taxation is passed on to the consumer anyway, this would eventually put a lot of money back in everyone’s pockets.
And if one company wanted to pocket the savings, their competitors would take advantage by lowering prices. Ain’t free markets grand?
There will be more revenues and jobs than any other tax program on the board. Basically a copy of Reagan’s plan for individual taxes.
Pray for America and Palin
I really appreciate you highlighting this. I’ve been thinking that it didn’t get much press, but that some ‘economists’ will come out in lauding it after having a few days to chew on it and vet it. There has been so much hoopla with the Hoffa/Demint forum/Bachmann fiasco/holiday weekend distractions the talking heads haven’t really given the substance of her speeches much press. There was a lot of meat in each of her speeches. If they are honest they won’t ignore it.
Mike, I shared your piece at C4P. Sure hope you don’t mind, but I thought it was important.
How is she supposed to make this happen with a Congress full of RINOS and Democrats?
Nobody’s talking about the math of this. It’s interesting. Projected 2011 corporate income tax receipts are $247 billion versus $1.463 trillion total income tax (corporate and individual). That’s roughly 17%. (Source: http://tinyurl.com/3sopxbo.)
Another way to look at this is the relationship to total federal spending. That’s projected to be $3.8 trillion in 2011 (Source: Ibid). Projected 2011 corporate income taxes are 6.5% of that number.
If we had the political will, could we cut $247 billion from our annual US federal spending?
You all know the answer is yes.
What would it buy us?
Capital flooding in from all corners of the globe to do business in the new US tax haven. American corporations would repatriate trillions of dollars stuck in as yet un-US taxed foreign jurisdictions.
Job creation would flourish.
Moreover, individual tax receipts would rebound; I expect soon replacing the lost $247 billion.
So, yes. It’s a brilliant idea. We should do it.