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raymor · 11-11-2011, 09:36 AM

Quote:

Originally Posted by nation-x

The problem with your math is that we only talking about 280 companies total in that report. The Bowles-Simpson report says that we give out $1.2 Trillion per year in tax subsidies to corporations.

Specifically the 280 LARGEST corporations, right?
The lefties always say that when they seek to raise taxes and create new regulations on corporations they are not taking about the millions of little guys like RMEE Inc (me), Bob Jones Plumbing Inc, etc. They are talking about the largest corporations, they say. The article shows that even DOUBLING taxes on the largest corporations wouldn't come any where near making a dent in our problems.

Don't get me wrong, I agree that a lot of tax credits and deductions should go away and everyone should pay their fair share. I just think it's worth noting that focusing on taxes from the largest corporations right now is a little like focusing on adjusting the AC while your house is on fire - it's not going to cool things down any.

If you wanted to actually affect the fiscal and economic problems, you'd have to go after a tax credit that adds up to real money, like deciding that the 45% of people who pay no net income tax no longer get the earned income credit. That's a tax credit that matters to the budget. A couple of billion in tax credits for turning perfectly good food into expensive fuel is dumb, but it doesn't really matter in a $4,000 billion spending plan.