It's not the taxes that are too high. Why would jobs come back here when you can pay someone in China or India 1$ a day to do the same job as someone making 20x that here?
Bill Clinton calls for corporate tax cut - Mike Allen - POLITICO.com
This isn't all that much of a surprise. Bill really isn't a true liberal, nor a conservative. He's a pragmatist and he seems to know a thing or two about basic economics. Think of the amount of international business that might relocate to the US if we had a more competitive corporate tax rate. 25% of what could be collected is more than 35-40% of nothing.


It's not the taxes that are too high. Why would jobs come back here when you can pay someone in China or India 1$ a day to do the same job as someone making 20x that here?
Ron Paul 2012
No gym for home, work out floor with 30, but is it for 20 like 30 lb when you no lift it to be for men, for 30 lbs instead? or half is 10 for 20 pounds?


the advertised rate and the rate that they actually pay are night and day. the fed only collected 90B out of 1.7T last year after 100B in tax giveaways according to the Cato Institute that is 5%.
the US already has the lions share of global 500s what else do you want?
Last edited by LAM; 07-09-2011 at 11:21 PM.
"We'll know our disinformation program is complete when everything the American public believes is false"
- William Casey, CIA Director (from 1st staff meeting 1981)
Close the loopholes and lower the corp rate to one that would be more competitive. Small businesses can't get out of it the same way that giant corps can. Close the loopholes and they will pay their fair share. That's the point that Bill was making. Eliminate all of the creative deductions and have a lower overall rate.
Spot-on, danzik.
All this talk of "taxes. Raise them, cut them," really is not the core of the problem.
It's job that are now overseas, replaced by a large service-sector job economy.
And there is this called.....called an election....that causes these "tax" discussions.
There negative to democratic elections.
It's an accurate statement that our current spending will not be increasing the debt We've stopped spending money that we don't have.
-- Jack Lew, then director of the Office of Management and Budget, in Feb. 16, 2011 testimony before the Senate Budget Committee.

And here in Australia they keep increasing taxes...
Do you really think we are going to pay back all of our debt by cutting revenue? If you lower the tax rate and remove loopholes and deductions to the point where a company is paying more, you are raising taxes. I think we all know that the GOP have stated raising revenue is not an option unless you couple those increases with cuts. Kinda like the guy who pays back a loan by cutting mcdonalds out of his budget and instead spending the same amount at burger king.
If sense were common, everyone would have it.
4/2007-Current 75th Ranked most popular image 1 spot behind Prince's bulge...
Check out my world famous Bob Loblaw's Law Blog at http://www.synergyhw.blogspot.com/...Just kidding, it's a health and wellness blog.


Australia is slowly moving away from some neo-liberal economic policies, the have seen the flaws in it's low wage labor model and are making some changes.
the US on the other hand is totally screwed. considering that inflation reduces effective tax rates increasing taxes on corps or at least reducing subsidy's would be the logical approach, so we know that won't happen.
"We'll know our disinformation program is complete when everything the American public believes is false"
- William Casey, CIA Director (from 1st staff meeting 1981)


I am so sick of this tax cut BS. Why can't we have flat tax rate for everyone regardless of how much one makes, marital status or social status or etc.? Or is it impossible? Everyone should pay their fair share, then shut the fuck up.![]()
"If you think you are too small to make a difference
you have never spent the night with a mosquito."
~ Dali lama


Corporations and the wealthy can have their tax cuts the split second they start doing things to get people working. Until then, fuck 'em. They SAY they will move out of the country, but the rate they are staying here says otherwise.


"high" corporate tax rates are not what's causing the employment problem, taxes are at the lowest rate since like the 60's and US company's are sitting on record profits and trillions of idle capital.
a good 3M+ jobs have been lost in manufacturing to China since they joined the WTO in 2001, the trade imbalance between the countries is killing us. you can chalk up another 800K in manufacturing losses to Mexico as well.
who knows how many jobs have been displaced or outsourced those numbers are hard to track. most sources say a good 500K over the past decade or so. then you have to take into account jobs that have been lost due to increases in technology that will never come back.
consumer credit is just about maxed out, and people have increased the personal savings rate in the past couple of years to adjust for losses of wealth from a loss of equity in the home. this causes contraction in certain parts of the service sector.
"We'll know our disinformation program is complete when everything the American public believes is false"
- William Casey, CIA Director (from 1st staff meeting 1981)
The fact that the politicians, former politicians, and citizens are even discussing taxes at all shows that the reall core problem is not being addressed:
Spending.
Taxes have nothing to do with the core problem.
It's the spending.
And more importantly, the promised payout of $62-71 Trillion dollars by the US government.
They won't have the money.
They don't have the money.
Tax talk reveals that the real problem that will indeed sink the United States will not be addressed.
It's an accurate statement that our current spending will not be increasing the debt We've stopped spending money that we don't have.
-- Jack Lew, then director of the Office of Management and Budget, in Feb. 16, 2011 testimony before the Senate Budget Committee.


spending would be secondary, the primary cause is the neo-liberal low labor wage economic model. consumption in the past 2 decades has been fueled by credit either revolving credit lines or home equity. until this is addressed nothing will change for the better for the working class in the US.
when you combine inflation with the ever increasing shrinking share of the national income that goes to labor, tax receipts at the state and federal level will never be at pre-recession levels.
capital has not only crushed labor as compared to the power it held in the 60's-70's but it buried it as well. and now US corporations have an excess of capital sitting idle and no productive place to apply it in the US. since the capital is held by private ownership it is incompatible for use to increase social production. depending on the structure of the business excess capital can be returned to shareholders who will either save it or re-invest it.
either way those in the lower income quintiles are totally screwed. the neo-liberal low wage model is fundamentally flawed. there is a limit as to the degree of wage inequality that an economy can sustain and we are well beyond that.
"We'll know our disinformation program is complete when everything the American public believes is false"
- William Casey, CIA Director (from 1st staff meeting 1981)

Standard of living is a big issue here though in Australia - wages may be high - I picked up some part time work recently in the cafe at the gym - $18 an hour - but when I was looking for a ute (pick up truck) for my business, I had to basically buy something Australian or Japanese - a 30 year old F100 for example (that was in 'working' condition) would have cost me in the region of $10,000 + and a 10 year old F150 don't expect change from $50,000. 30 year old 2 bedroom apartment expect $450,000+ in the area I live in.


"We'll know our disinformation program is complete when everything the American public believes is false"
- William Casey, CIA Director (from 1st staff meeting 1981)


Coarse edged youth, the irish pendants string from their smiles
not yet plucked as to slacken the seams
and drag down the features of age,
no folds or creases from unkempt wear
eyes of tranquilty, crystalline-beads
no sign of despair in their hair, nor their hearts
but oh they have yet to be experienced and that makes aging so very worth it...ML circa2012
While spending is the core problem, taxes are a very large factor. Who knows, without the Bush Tax cuts maybe we wouldn't have had to borrow from China to pay for the 2 wars. Besides, they are going to have to generate revenue, that is of course, if they intend on paying the debt back. The longer they wait to raise taxes the more they are going to have to raise them. I do agree that spending needs to be cut first, though.
If sense were common, everyone would have it.
4/2007-Current 75th Ranked most popular image 1 spot behind Prince's bulge...
Check out my world famous Bob Loblaw's Law Blog at http://www.synergyhw.blogspot.com/...Just kidding, it's a health and wellness blog.
Well, give the economy some breathing room first. Reforming the tax code and closing loopholes would raise them by increasing the base, rather than making those who can't get out of paying their taxes pay more. That way, those who could afford to pay more (particularly more than nothing) would pay more, without having to raise the marginal tax brackets.