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Originally Posted by scottw
Oh, no Bubba...say it ain't so!!!
Bill Clinton calls for corporate tax cut
ASPEN, Colo. — President Bill Clinton says the nation’s corporate tax rate is “uncompetitive” and called for a lower rate as part of a “mega-deal” to raise the debt ceiling.
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You missed an important part of Clinton's speech...
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We tax at 35 percent of income, although we only take about 23 percent. So we should cut the rate to 25 percent, or whatever’s competitive, and eliminate a lot of the deductions so that we still get a fair amount, and there’s not so much variance in what the corporations pay.
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Lower the top rate, remove deductions and let the companies still pay about the same in taxes...pretty much what Reagan did in '86. It sure sounds good for the Norquist disciples and might help negotiate a settlement in the debt ceiling game of chicken that Congress is playing.
-spence
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