White House and congressional Republicans reaching a consensus that corporate taxes should be cut.

Momentum Builds for Corporate-Tax Overhaul
By JOHN D. MCKINNON And ELIZABETH WILLIAMSON
Wall Street Journal
January 6, 2011

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.

Read the full article at:

http://online.wsj.com/article/SB10001424052748703675904576064052401692010.html?mod=WSJ_hp_LEFTWhatsNewsCollection

:sarcasm:

His buddies in the GOP must be delirious with glee at how Obama is giving them everything they want.

which effectively raised taxes on people making less than $20,000 a year.

in case people haven't noticed :sarcasm:

on at least a Trillion $ of CASH. Cry me a river for those poor corporations.

Or were you talking about small businesses like the Koch brothers?

Or are you serious?

I suspect they want us to pay them...oh, yeah, we already do.

In 2008, the New York Times discovered that one in four of the US's largest corporations regularly pay no income tax to the IRS, and billions are lost. Exxon's not alone: The Forbes article points out that General Electric avoided paying any income tax last year on profits of $10.3 billion. In addition to offshore tax shelters, GE had another ace in the hole: It submitted a record-breaking 24,000-page tax return. God bless the IRS's auditors; I'd have paid billions not to have to read that thing.

http://motherjones.com/mojo/2010/04/exxon-mobil-paid-zero-income-tax-offshore%20shelter-wal-mart-general-electric-forbes

I am seeing the petals of the Fascist flower unfold from its brown, fecal bud. You can almost smell the nauseating, sewer-like stench of its malevolent bouquet wafting green and thick through the air.

And no chance for change!

and bankbooks

He's simply a political strategist, trying to secure as much corporate campaign cash as possible, while retaining just enough support from voters to win the next election. It always seems as if he's trying to jettison liberal voters and replace them with a more docile group of "Independents", too. Pure political gamesmanship, with no regard to actual real-world outcomes for regular people, short term or long term.

The more I watch him, the more I understand the whole "post-partisan" line. That may have been the only honest slogan he had.

moving in whichever way the wind is blowing at the moment.

biting the very hand that sent $ to his camapign---in return for MUCH MORE $$$$ by attaching the Democratic party to Corporate/Wall St. America.

The "ideology" is that of Willie Sutton: Go where the money is.

We Liberal Democrats bought the Monkey's Paw: We wanted to be part of electoral history. A Democratic President who destroys Social Security would fit that bill.

IF that cut included reform to close loopholes so they actually DID pay taxes.

Oy vey...at this rate Obama won't need "the left" or his base anymore, the bloody republicans will vote him back into office in 2012!!! :wtf:

http://www.mytwodollars.com/2008/08/13/66-of-american-corporations-pay-zero-federal-income-tax/

Obama is showing his true colors. I will have to write in "The Constitution" for president in 2012 unless there is a good Green or martian candidate.

Peace,
Tex Shelters

An Obama supporter will be along shortly to answer it for us.

Expect no help from this duplicitous shill. To go a few steps further, at this point the only "change" we can hope for is for the whole rigged system to come crashing down under the weight of its masters' metastasizing greed.

plain and simple. Owned by corporations....

Dateline: sometime in 2006.

wtf man seriously wtf. :wtf:

Less taxes = less money for public education, social security, medicare, etc. How dumb was I to have voted for Obama? :banghead:

with a "D" before his name; and he's leading us straight back into another Gilded Age.

Only Calvin's "Gilded Age Revisited" eventually lead to the GREAT DEPRESSION.

My goodness.

Uncle Miltie would be proud.


cf: Shock Doctrine.

for keeping jobs in the country. We're underwriting the outsourcing of our own jobs.

As opposed to the current tax breaks they get for closing U.S. factories and paying people to train the foreign workers who will assume their job.

Tariffs are a different issue. They would likely violate free trade agreements we have signed and our trading partners would retaliate with tariffs of their own. China, on whom we depend to fund our profligate spending, could retaliate in other ways like dumping our debt on the market and driving our borrowing costs way up.

Market protection through tariffs was one of the causes of the war with Japan. Look up the Smoot-Hawley Tariff of 1930

sooner or later yer gonna draw back a nub.

The IRS has the legal right to seize ANY company that doesn't pay its taxes (on time and IN FULL) and run it as a for-profit, Government entity until such time as said unpaid tax debt is paid. Otherwise, fuck ALL THAT noise.
=)