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kentuck Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Nov-12-11 09:36 AM
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Let's have a debate...
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Edited on Sat Nov-12-11 09:37 AM by kentuck
...about the tax loopholes in our tax system and the urgent need for tax reform. Let's keep the Bush taxcuts out of the discussion. Those will expire if politicians do nothing.

Instead, let's talk about the "actual" corporate tax rates. The conservatives argue that we have the highest corporate tax rates in the world. However, they admit that after all their loopholes, most corporations only pay about an 18% tax rate. That is the "actual" rate. The other is fake.

Let's talk about tax subsidies for big oil companies. We give them tax breaks to screw us with high gas prices. Real brilliant, isn't it? Let's talk about tax breaks for corporate jets. These loopholes go on and on but the politicians would rather talk about "spending cuts". They would prefer to cut Medicare, Social Security, Medicaid, education, etc. We know their priorities.

But our tax system does need reform. Should the "actual" tax rate for corporations be 35%? Or should it be more? Shouldn't we be discussing closing these loopholes rather than talking about spending cuts on social programs? Shouldn't that be the debate Democrats should be engaging in? Put the Bush tax cuts on the shelf. Let them expire and let's discuss tax reform. Do we want the middle class to continue to pay very low income taxes or should their taxes increase to what they were under Clinton? Should everyone pay their fair share or just those that make over $250,000 dollars per year? These are the questions we should be debating, in my opinion.
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