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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 ...
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LOL, yeah, the Democrats will go for that!
"Corporate taxes", of course, are the primary way for Democrats to get their filthy paws on IRAs, 401Ks, Keoughs, pensions, and other investments that are usually invested to some degree in stock funds. The rats know that trying to seize retirement accounts directly is a political non-starter at this time, so they remain content to grab the money through the back door, via "corporate taxes".
Has Clinton gone mad, or is the Sink Masturbator simply putting on some theater to make his (Democrat) party look less communist for the benefit of corporate campaign donors? Either way, he cannot be trusted.
Standard politician evasion of responsibility (most people would be shamed enough to recognize their own hypocrisy, but more and more, federal government elites are beyond any sense of shame.
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. . .
This only makes sense to a politician who wants people to nod and not think. Tax at 35, but only take 23. Why? Because of deductions. So cut to 25, and eliminate a lot of the deductions (but, notice, not ALL), so the result would be taxing at 25, and keeping -- what?
Tax deductions are one of the ways the government tries to shape the economy (or reward supporters without anyone really noticing) -- how's THAT been working for you so far?
. . . so that we still get a FAIR amount . . .
You want a FAIR amount? Then pass the FAIR TAX. Get government out of manipulating the economy and paying off contributors with public moneys.
Diversion city.
Impeached42, aka “The Bent One”, is stealing attention from Hussein.
Like Hussein, the Bent One is a LIAR.
Note to Mike Allen: That`s FORMER President Bill Clinton.
And the guy was a pig.
But he foisted some rather foul federal judges onto us, as we`ve seen through this whole 0bamacare saga.
Democrats didn’t seem keen on it when Obama said pretty much the same thing back in January. I don’t see why Clinton’s pronouncement would help.
How come I keep hearing Clinton calling for this and that? And a dial tone from Obama. Who’s president?
This is a built-in dynamic, and it creates employment. To take even 25% of a corporation's capital is damaging not only to the economy, but especially to the lower rungs on the employment ladder.
The fact that the corporate income tax makes American exporters less competitive by the amount of the tax also harms domestic employment. I know of no issue that better justifies a national consumption tax than this one.
“Note to Mike Allen: That`s FORMER President Bill Clinton.”
I prefer IMPEACHED President Bill Clinton.
I'm inferring (perhaps incorrectly) that other countries have dropped their rates since then, which means we were still competitive when he did it, but it's not true now.
Total surmise on my part.
Yes, he was and is a Pig.
Geez, make up your mind already!
But maybe some of Dems are starting to think logically.
The 19 Percent Solution
How to balance the budget without increasing taxes
http://reason.com/archives/2011/02/14/the-19-percent-solution
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