Pfizer drug is gone because the liberals are far too stupid to eliminate the corporate tax that our corporations must avoid by moving offshore. How can our country survive when liberals are involved in making policy? Why not make liberalism illegal as our Constitution intended?
Can you show us where the liberals raised the corporate tax after taking over Congress in 2007 or after Bush left?
Oh, wait. The corporate tax rates have been the same since 1994.
Hmmm. Didn't the GOP control all three branches of government for a while there?
As my colleague Larry Mishel
wrote in a post last week, “Fighting to preserve social insurance (Social Security, Medicare, and Medicaid) benefits that the broad middle class depends on and making the public investments we need for growth and equity requires winning the battle over more revenues in the budget negotiations ahead.” This task will prove far more difficult now that
the Bush-era income tax rate cuts have been made permanent for all taxpayers earning less than $400,000 ($450,000 for joint filers), making them a permanent part of the legislative landscape moving forward.
The Bush tax cuts, passed in 2001 and 2003, were designed to sunset after 2010 so they could pass Congress through the reconciliation process. They were extended by President Obama through 2012 so as to not raise taxes during the recession/weak recovery; additionally, in exchange for extending them two years, Obama was able to negotiate the payroll tax holiday and the extension of Emergency Unemployment Compensation (EUC).
The most recent extension of these cuts has allowed conservative members of Congress (and others, like
Grover Norquist) to claim victory on these tax cuts, which briefly expired on Dec. 31, 2012, only to be reinstated almost in full. Conservative representative Dave Camp (R-Mich.) summed up the situation by
saying, “After more than a decade of criticizing these tax cuts, Democrats are finally joining Republicans in making them permanent.”
