Yay! Tax Reform

Posted: February 22, 2012 by chad98036 in Uncategorized

WASHINGTON — President Obama will ask Congress to scrub the corporate tax code of dozens of loopholes and subsidies to reduce the top rate to 28 percent, down from 35 percent, while giving preferences to manufacturers that would set their maximum effective rate at 25 percent, a senior administration official said on Tuesday.

Oop’s there is an Alternative Minimum Tax.

Mr. Obama also would establish a minimum tax on multinational corporations’ foreign earnings, the official said, to discourage “accounting games to shift profits abroad” or actual relocation of production overseas.

We have all seen how well that has worked on an individual basis.  maybe that part should be rethought. 

source

The rest of the article is just fanboyism.  “Obama is truly the friend of the working man” and such.  No kids chanting MMM MMM MMM but I am sure on the CBS news that will be a subliminal overtone.

Comments
  1. veeshir says:

    No, that’s gonna work out great!!!!!
    Because, as we all know, corporations don’t react to changes in the tax code.
    This way, they’ll pay more in taxes without raising the cost of their goods and services.

    Free money!!!!!!!

    Did I sound serious? I’ve been thinking of trying to get a job as a journalist is why I ask.

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