Posted on 07/03/2011 11:05:54 PM PDT by smokingfrog
President Bill Clinton says the nation’s corporate tax rate is “uncompetitive,” and called for a lower rate as part of a “mega-deal” to raise the debt ceiling.
“When I was president, we raised the corporate income-tax rates on corporations that made over $10 million [a year],” the former president told the Aspen Ideas Festival on Saturday evening.
“It made sense when I did it. It doesn’t make sense anymore – we’ve got an uncompetitive rate. We tax at 35 percent of income, although we only take about 23 percent. So, we SHOULD cut the rate to 25 percent, or whatever’s competitive, and eliminate a lot of the deductions so that we still get a FAIR amount, and there’s not so much variance in what the corporations pay. But how can they do that by Aug. 2?”
Clinton also said Grover Norquist, who as president of Americans for Tax Reform is the GOP’s unofficial enforcer of no-new-taxes pledges, has a “chilling” hold on the nation’s lawmaking.
The former president said it has seemed like Republicans need any revenue concessions need to be “approved in advance by Grover Norquist.”
(Excerpt) Read more at politico.com ...
I thought that just the other day Slick was publicly telling Obama to stick it to those rich people real good.
So if the tax rate is uncompetitive now how was it ok when he raised it?
Doesn’t make much sense to me either.
So if the tax rate is uncompetitive now how was it ok when he raised it?
He didn’t bother to explain that. He was CYA...as always.
I thought Clinton was a FORMER president...
He spends more time telling Obama what to do!
Obama...get me some coffee!
Bubba is going to be Squeakied.
Or is it called Loughnered now days?
He did. My husband say he just wants atttention
“It made sense when I did it. It doesn’t make sense anymore..."
Tax cuts good
Clinton bad
Brain hurts
Probably no amount of Viagera would ..... for Bill Clinton.
I hope.
I see Clinton got his memo from Soros.
I wish old Bubba was still president—he would not make the same dunderhead mistakes as Obama. He listen to Republicans, he was able to compromise—He balanced the budget. OK he had a thing for women....
Yup. I think Grover would probably be persona non grata at the Aspen Institute.
Good ole’ Slick. He’s proposing an increase disguised as a reduction.
Say again, who balanced the budget?
I think you meant to say Klinton took credit for balancing the budget, via policies he did not initiate or approve of.
Perhaps economic conditions are different?
Here’s the thing though, not politically wise, but for the country, the economy was pretty good under Clinton, and awful under Obama. Based on the track records of the 2, well, maybe Clinton was just better at being President than Obama.
Okay...
“35 percent isn’t competitive, but we only take about 23%.”
So Clinton suggests they lower the rate to 25%.
And in Clinton’s mind that’s actually a cut.
With his cut would come a denial of deductions they get now.
How would that work out to be a cut?
Just goes to show us, that rule about the truth being 180 degrees opposite of whatever he says, is still in effect.
IIRC Bill Clinton is the former President,
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