Really? If the citizens pay taxes on their income without deducting their living expenses, why the corporations deduct their costs? They should be taxed on the gross revenue same way as everyone else.
Wonder what sacrifices investors are making for the 'war effort'? Tax increases to pay for the war and protecting the jobs for returning vets before sending them the credit bill would be patriotic.
As any capitalist will tell you, the final step in the transition to a truly capitalist society is the abolition of all taxation. To say that corporations need to pay their "fair share" is getting it backwards--the individuals need to pay less.
Ok, you think that it's unfair that corporations can deduct operating expenses, but individuals can't deduct living expenses? Fine--the answer isn't to change the tax code to disallow a deduction for operating expenses, but to change the tax code that allows for deduction of living expenses.
I don't agree with Bush on much. In fact, this is the only issue on which I agree with Bush--but he is dead on, 100% right. My only concern with the Bush administration on this subject is that I wish it would concentrate less on bi and tri-lateral trade deals, and concentrate more on multi-lateral trade advancement. I'd like to see the Bush administration push hard to advance the Doha round--which would include eliminating farm subsidies--and really get some meaningful relief in the realm of world trade. I think since the Doha round collapsed last Sept., Bush has shown some surprising interest in reviving the talks, so perhaps there is promise.
Sure, so what income your company pays you (if you actually have a job and are not collecting on some government program) is in after tax dollars. There will be fewer dollars for labor wages and you'll either have to work harder or get a new job.
Are you now getting a better understanding of why it is so dangerous to have people with your mindset anywhere near the levers of public policy?