Wolf Blitzer delivers the most important breaking news and political, international, and national security stories of the day. Tune to The Situation Room weekdays 5-7pm ET on CNN.
In light of recent budget battles, is it fair that corporations can defer paying taxes? Lisa Sylvester investigates.
You must be logged in to post a comment.
why not do the sensible thing and go to a fixes sales tax. that way anything sold or imported into the us gets a 5% tax. those who spend more pay more, those who spend less pay less. It is fair for everyone. No more IRS or income tax. No more audits, no more tax cheats like Geithner. Do it now. Don't wait another week. Watch job growth explode. When corporations know what the feds are going to do or not do, they will start to invest again. Since Bush's last days, businesses have been worried about a liberal president. Take the power to penalize out of the hands of this regime and let business start hiring again.
Fair tax is the right way to go. The IRS can't even stop fraudulent claims from prisoners,(locked in a cell in one place. .. We have lost millions due to inept management.
One note:You are getting too much taken out in taxes each pay peorid.This year, increase your number of with holdings.This way you get more money in your pocket each pay peorid.What you are doing is giving uncle sam and interest free loan all year long.Most people try to get as close to 0 as possible.You'll notice that the wealthier people like to pay taxes at tax time.That way YOU get the interest free loan.Your bank should be able to give you cash for that card.No need to go to a cash advance place.Don't ever make this mistake again.Why would anyone ever give the gvt an interest free loan.Keep the money for yourself all year round this year./
Corporation tax breaks ( I mean Corporation welfare ) I heard of give em a break but hey man that's a bit over the top.
Everyone else pays but you corporate owning elite socialites set around and crack the bubbly and talk bull Shi?
we americans work hard all year to have to give it to the government. Shame on you corporate American.
Explain the Fair Tax and 0 corporate tax. Means Jobs ! NAFTA take a hike ! What about retirement in this Fair Tax economic plan and being taxed ? Penny Mack Plan and Gang of 6 riding in ! Saddle up ! Run the numbers Mr. Blitizer and explain it to us . Ya know as Maxine Water's says,"The Tea Party can go straight to hell." Condemn it and nobody cares what political party you're with and much less the color of your skin. Get the jobs back to the USA ! Does it say made in the USA ? Not yet and China owns our debt. The globalization of an economic nightmare. Strike back ! Go Penny Mack !
Where are the jobs?Overseas yes.No wonder Unemployment is high.Politicans and CEO'scannot sleep straight in bed,unless they sleep together.Jim Thomas Phx.Az.
I am in favor of a flat tax, to simplify these discrepancies, though I doubt the tax-attorneys will be looking for other careers!
IF the players in Washington want this economy to get on it's feet, they must:
1. Put Corporate Taxes at the same level of the rest of the countries, to slow down the 'corporate headquarters in Cayman' moving funds offshore.
2. Transfer the personal Tax Burden away from the middle class (under $1mil income, since today's $250K income is not the same as 20 years ago) to a more equal loading on the population, by limiting deductibles.
3. Promote corporate investments in national projects, by tax incentives based on actual investments.
4. Have Banks loan funds to local projects/Co's or threaten to remove their membership in FDIC.
5. Provide smaller local banks & Credit Unions the same Federal assistance afforded to Large Corporate banks.
Do any 2 of these & be amazed at the improvement in the economy!
Oh yeah lets stop wasting $100mil a week on poor management of Pentagon's projects in Iraq & Afghanistan.
Our tax system is highly complex due soley to lobbyist is are paid by wealthy individuals and businesses to obtain tax preferences from congress for their clients. Our governement is bought and paid for by special interest and the same is true for our tax system. If the ordinary American citizens would organize and fight for economic equity and not lit the minority special interest group rule our country and tax system then we just might see average American citizens incomes rise and help stimulate our economy. I challenge Norquest and conservative republicans present sound empirical evidence that taxes drive the US economy. It is simply not that simple and, let's face it, incremental tax savings received by businesses are more likely to boost CEO pay and shareholder value than cause businesses to expand its workforce. Tax reform that eliminates all preferences and subsidies, and, hence, the employment of tax lobbyists and tax consultants who "engineer" tax savings through use of legalize rather than economic substantance is the only real way to regain fairness in the tax code and begin the process of regaining economic equity among all US citizens. Unfortunately, unless there is activist movement to achieve economic equity for all America such as the movement for civil rights, the special interest groups, lobbyists, right to work states, Tea Party, conservative Republicans and greed will succeed in eliminating the middle class and returning America to the days of a two-class America.
Absolutely it is unfair. Right now we make under $43,000 and all we worry about is having enough money to pay our taxes and make our bills. Every year we end up having to pay a couple thousand more than we've already paid in because our tax bill is so high. I've been unemployed for over six months and am desperate to find a job mainly so that we can make our taxes again this year. Because of my spouse's employment, we are forced to pay self-employment tax and he isn't even self-employed! He is a member of the clergy and thanks to all the very wealthy tele-evangelists out there who make millions, he is lumped in the same category as them because his job TITLE is clergy. He is not self employed. We pay more than our fair share – they should at least pay theirs.