Momentum Builds for Corporate Tax Overhaul

Discussion in 'Politics' started by WillowTree, Jan 6, 2011.

  1. WillowTree
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    WillowTree Diamond Member

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    Corporate Tax Overhaul Is on Horizon - WSJ.com







    The White House and congressional Republicans are moving from different directions toward a consensus that the U.S. corporate tax code needs a fundamental overhaul, a goal high on corporate leaders' agenda.

    Specific proposals for retooling the complex corporate-tax system aren't on the table and the debate over the issue is sure to be lengthy and difficult. But President Barack Obama and Republican congressional leaders are separately sounding the same broad theme that corporate tax rates should be lower.

    "Tax reform could be a significant boost to our competitiveness," Rep. Eric Cantor (R., Va.), the new House majority leader, said this week. "I'm hopeful and expect the president to put some action behind his statements."

    The movement on the corporate-tax issue comes as Mr. Obama and his aides are pushing a broad effort to repair relations with U.S. business leaders. Since Democrats lost control of the House in November, Mr. Obama has met with chief executives to solicit their ideas on job growth, negotiated a free-trade pact with South Korea widely supported by business, and begun searching for figures with strong ties to the business world to take top White House jobs.
     
  2. WillowTree
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    WillowTree Diamond Member

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    That'll frost the libturds froot loops.









    :lol::lol::lol::lol:
     
  3. WillowTree
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    WillowTree Diamond Member

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    The White House is also advancing a rapprochement with the U.S. Chamber of Commerce, the capital's biggest, richest business lobby, which has clashed repeatedly with the administration on a range of issues. On Wednesday, the White House said Mr. Obama would address members of the chamber for the first time at the group's Washington headquarters on Feb. 7.







    I hope they serve him up some "crow".
     
  4. blastoff
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    blastoff Undocumented Reg. User

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    Good. We should be more in line with the lower rates of other countries.
     
  5. Mad Scientist
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    Mad Scientist Deplorable Gold Supporting Member Supporting Member

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    Tax reform should not be limited to just corporations. The entire tax code should be "reformed".

    I never thought I'd say this but I think it's time we should look at tariffs as well.
     
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  6. VaYank5150
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    VaYank5150 Gold Member

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    Sure....let's give them some more incentive to ship jobs overseas!
     
  7. loosecannon
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    loosecannon Senior Member

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    I can predict with authority what will happen:

    A tax overhaul bill will be hammered out that includes a long, long list of exemptions and exclusions to protect powerful industries, lobbyists will descend on our reps and shower them with positive and negative pressure.

    The final bill will look like the world's largest sellout to corporate interests.

    All you gotta do is look at the financial regulation that has been adopted since 2008, or look at the health insurance deform bill, to realize that Congress has no teeth and that both parties serve their corporate sponsors first and foremost.
     
  8. uscitizen
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    uscitizen Senior Member

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    We need less tax revenue to help pay our debt.
     
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  9. LordBrownTrout
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    LordBrownTrout Gold Member

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    Same here. I said something to that affect on tariffs a few months ago. That's a tough one. Bring the companies back, lower tax rates, start hiring millions of unemployed.
     
  10. Mr Clean
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    Mr Clean Gold Member

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    Conservative math 101.
     
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