Need a little help comrades............

[socialist_n_TN]

Do you guys have any opinions or resource materials on the Obama corporate tax plan? I've JUST started researching this issue for a planned WP article and I wanted to hear what you have to say and read anything you think is good on it.

My problem is the same as always with these types of things. It always seems like they try to make them "revenue neutral" by lowering rates and closing loopholes, but the end result always becomes lowered rates, but the loopholes get reinstated. Or new loopholes get created. The end result is even LESS tax money for the people to use on necessary government services.

[TBF]

1. A few sources -

Here are a few things I was able to quickly pull up ... others may remember specific articles/reports that would be even more helpful, but this should get you started. The M$M loves to opine about things like this, but the corporate sources pretty much think it's just a political gesture in an election year & that nothing will come of it.


Here is the pdf to print and review: http://www.treasury.gov/resource-center/tax-policy/Documents/The-Presidents-Framework-for-Business-Tax-Reform-02-22-2012.pdf

I would read the capitalist sources to find out what the plan really says:

http://www.marketwatch.com/story/obama-corporate-tax-plan-takes-aim-at-tax-havens-2012-02-22
http://www.ft.com/intl/cms/s/0/e2688bdc-5da7-11e1-869d-00144feabdc0.html#axzz1nECKKtEq
http://moneymorning.com/2012/02/22/president-obamas-corporate-tax-rate-plan-wont-get-anywhere-in-2012/
http://online.wsj.com/article/SB10001424052970203918304577239201669890634.html

Search for "historical corporate tax rates":

http://www.irs.gov/pub/irs-soi/02corate.pdf
http://www.huffingtonpost.com/2011/03/02/corporate-tax-revenues-ne_n_830361.html

[socialist_n_TN]

2. thanks T........

I appreciate it. Do you have any "top of the head" opinions on it?

[TBF]

3. Not really -

I haven't done a lot of reading on this. Just by looking at this chart a couple things come to mind though :




... I can't believe corporations are really paying that rate even though the media will "use" it to show that corporations here have the 2nd highest tax rate in the world. The devil has got to be in the details - the deductions/loopholes. Maybe that is where the story is - how much they should pay versus what is happening in reality after the tax accountants get done filling out the forms.

[socialist_n_TN]

4. yeah. pretty much as i said about........

The rate is cut and loopholes are closed. Then reopened in a couple od years. Or new ones added on.

[OrwellwasRight]

5. Also try epi.org and

citizens for tax justice. Look for a chart on effective tax rates (rates actually paid) instead of just rates. That gives you a more accurate picture. The AFL-CIO did or will soon put out a statement as well.

[socialist_n_TN]

6. i sent the first draft to the editoral board today.......

We'll see.