Saturday, July 14, 2007

Corporate Taxation

Here's a Wall Street Journal article lamenting high corporate tax rates in the United States: http://online.wsj.com/article_email/SB118428874152665452-lMyQjAxMDE3ODE0MzIxODM4Wj.html

Bush and the GOP had 6 years to do something about this. Instead, they lowered taxes for their friends who pay capital gains, while basically leaving taxes in general just where they had been under Clinton. Indeed, for all of Bush and the GOP's huffing and puffing about how great they have been on taxes, the fact is that income and corporate taxes are higher under this President, than they were under his father, widely derided for raising them.

It is difficult to even conceive of, but basically our current President has made it through two terms and has been wrong on virtually every issue of importance, including income taxes, supposedly one of his few strengths.

1 comment:

Marshall said...

Worse yet, there's no agreement on the Alternative Minimum Tax, which adversely affects all of the states that opposed Bush; moreover the Estate Tax is dues to return to its previous levels after 2010 and the minimal income tax rate reductions are also due to sunset absent Congressional action. A Democratic-dominated Congress in the 2009-10 session is hardly likely to extend many of the cuts passed earlier in Bush's term.