February 22, 2012

TAX WHAT YOU DON'T WANT, NOT WHAT YOU DO:

Obama to offer corporate tax reform plan (Jessica Yellin, 2/22/12, CNN) 

The Treasury Department will unveil President Barack Obama's corporate tax reform plan on Wednesday that will reduce the overall corporate tax rate, an senior administration official told CNN.

The President's tax plan is intended to "enhance American competitiveness by simplifying the tax code and eliminating dozens of tax loopholes and subsidies, incentivizing job creation and investment here at home and lowering the business rate while broadening the tax base," the official said.

The proposal calls for lowering the overall corporate tax rate to 28%, and the effective rate for manufacturing to 25%.

Even beside the economic reasons for dropping the rate to 0%, it would be the most effective form of campaign finance and lobbying reform.

Posted by at February 22, 2012 6:27 AM
  

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