from HuffPost:
Corporate tax rates!
I still have fond memories of the 2008 campaign, where Senator John McCain and his sometime-surrogate business super-genius Carly Fiorina would often opine that the corporate tax rates were too damn high. Those two vastly prefer the way they did business in Ireland, where the same tax rates are much lower.
Left out of the discussion was the fact that Ireland actually captured more revenue because they lacked the gaping loopholes that allow certain corporations in the United States to pay nothing in taxes.
Take, for example, Bank of America: they posted great profits, they paid no taxes. And yet presidential aspirant Tim Pawlenty is still pretty sure they need some additional tax relief. ............(more)
The complete piece is at:
http://www.huffingtonpost.com/2011/03/03/tim-pawlenty-bank-of-america_n_830827.html