Tag Archives: loopholes

The Democrats propose to tax corporations even less!

In typical double speak method, the Democratic Party Obama Administration is proposing to supposedly raise corporate tax revenues by actually lowering them! The tax rate for corporations is now at 35% with numerous loopholes out of actually paying that, so Obama has come along with a proposal to lower the rate even more to 28%. Really, Obama?

‘The current U.S. corporate tax rate of 35 percent is one of the highest in the world, but the abundance of loopholes and deductions enable many businesses to pay far less than that — or nothing at all. Companies in the United States pay almost half the taxes that companies in other rich countries pay, compared with the size of the economy, according to the Organization for Economic Cooperation and Development.’

This issue of corporations not actually paying their taxes is what makes many national capitalist economies of the world ‘Third World’. And Mitt Romney actually wants to lower the corporate tax rate to just 25%, so Obama has countered by saying he will do almost the same!

What’s the difference in the two corporate funded parties rush to make the US more like a Third World country? I’m not so sure there is any difference. They both are in a mad race to give out taxes monies to huge corporations rather than to tax these behemoths.

For full article about the Obama corporate tax proposals, see the Bloomberg report Obama to propose lowering corporate tax rate to 28 percent