Taxation of small business versus corporations do vary a lot. I know from experience that tax solutions for corporations are astounding, it is an industry of its own. Small business gets taxed much worse than your average Fortune 500 corporation. Corporations should be taxed at a high rate, especially since nowdays, they use USA as a consumer base rather than labor source. As for taxing workers' wages, that is a crime. There is no reason you should taxed on your labor. It is unconstitutional, after all.
I strongly suspect that it wasn't something so benign. The Republicans wanted to have their cake and eat it to (cut taxes while producing figures to show a balanced budget ten-plus years out). No doubt they also assumed that the fight to extend or not extend the cuts would be a political bonanza - "look, those Democrats are trying to raise taxes!"
Your memory sucks - do you not remember the Internet bubble and the massive financial collapse afterwards? False growth caused by unsustainable projections from overstimulation is not wealth. Not to mention that the whole Terrorism thing was allowed to get out of control during Clinton's 8 years - the very same consequences we are suffering from now originated from his administration. To believe otherwise is delusional, selective memory. ------------------------------------------------ It amazes me that Democrats always cry about what they have "inherited" but never does that work both ways. They put Clinton up on some pedastal and completely forget that the shit that Bush had to try and respond to. That he inherited from Clinton. How he responded, for better or worse is arguable, what is NOT arguable is the original source of the problems we have now, that is plain historical FACT - Clinton/Greenspan. It is also a fact that Presidential-type policy usually takes 4 - 8 years to really be felt - but Congressional-type policy is more like 1 - 2 years. Well, the Dems have been in charge of day to day policy for about 2 years now - so let's put the fucking blame where it belongs. they have controlled Senate Banking and House Finance for two years. How have Barney Frank and Dodd done for you, huh? Meanwhile, our pathological liar ("no more business as usual")Nobama has wasted a Trillion dollars filled with pork and not even come close to improving anything, and now says that our defict has to DOUBLE. And is hurrying to put in place policy after policy that crushes growth, market confidence and productivity. And has just released an absolutely USELESS housing re-fi plan (the 3rd one for this Democratic congress, by the way) It's disgusting and we are well and truly fucked now.
The reason the gov't had a surplus back in the late 90s was b/c of the Nasdaq parabolic move (coupled with Clinton raiding Social Security). The bubble popped and they were forced to create another bubble to cover the gap in tax revenue. The gov't ramped up its size to spend the surplus. The tax revenue during that period was unsustainable.
If anything large corporations should be taxed less simply because THEY EMPLOY MORE PEOPLE. If you increase taxes on big corporations they will be forced to increase prices and cut labor [jobs]. The entire capitalist system is being manipulated by the bailing out of failed business models. This will have horrific consequences. Horrific. In a capitalist society, when a business fails, the assets are sold off at a discount to new competent management. This is a war on Capitalism. THey are trying to save service-industry jobs to capture more votes. This isn't time to baby and pamper the people. It's time we roll up our sleeves and work and take back our country.
Ha, but they don't employ more people. Small businesses employ more people of the population! oops! This might be a war on capitalism I agree ,but this war is waged BY these massive corporations and their rich benefactors. They want permanent monopolies to hold power over the economy, they don't want competition, or a free market. War on the rich, my ass. The "hyper rich" just stole trillions through the bank bailouts in less than 6 months. They are stronger than ever.
This war is waged by government and the Anglosphere. We aren't even pawns on the chess board. The real transfer of wealth has yet to begin--the great inflation. If you raise taxes the local Tropical Smoothie will reduce head count by 1-2 people, Citigroup will reduce headcount by 10-20k. The problem isn't too much or too little taxation, the problem is government spending. Now the Government will allocate more funds to the SEC (and all other "regulatory agencies") to hire more of their buddies to screw the system. The same thing basically happened during the S&L crisis. Do we not see a pattern? The only way out of this is revolution. If you can't see it you're blind.
First only someone with shit for brains would want to raise marginal rates during a recession. Second only a dumbass keynesian or marxist would try to resurrect the failed new deal economy. Combine the 2 and who do you have ? BO
Well, remember when Obama came to Joe the Plumber (now Joe the Journalist). What did B. Obama say .... "I want to spread the wealth around." What exactly does that mean, if not radical social engineering ? But I definitely want to read Gross's "Dumb Money". Seems like an inspired work (really).
that is increasing taxes from their current levels you moron. you must be the dumbest person in this whole forum. i dont' care how "insignificant" you think it would be. if you think paying any more in taxes is a good thing, then please pay mine. anaconda, you're a dumb asshole.