Michelle Bachmann's Perfect World

[lame54]

http://www.politicsplus.org/blog/?p=5081

Several of the 2012 GOP presidential hopefuls have laid out economic platforms that would include huge cuts in the corporate tax rate. Former Massachusetts Gov. Mitt Romney (R) called for lowering the corporate tax rate from 35 percent to 25 percent, while former Minnesota Gov. Tim Pawlenty (R) went a step further, calling for a cut to 15 percent.
In an interview published today by the Wall Street Journal, Rep. Michele Bachmann (R-MN) — who is toying with a presidential run herself — decided to one-up both Romney and Pawlenty, calling for a reduction in the corporate tax rate to 9 percent. Adding insult to injury, Bachmann wants to pair that huge tax cut with giant tax reductions for the rich, as well as a tax increase on the working poor:

“In my perfect world,” she explains, “we’d take the 35% corporate tax rate down to nine so that we’re the most competitive in the industrialized world. Zero out capital gains. Zero out the alternative minimum tax. Zero out the death tax.” <...>
Her main goal is to get tax rates down with a broad-based income tax that everyone pays and that “gets rid of all the deductions.” A system in which 47% of Americans don’t pay any tax is ruinous for a democracy, she says, “because there is no tie to the government benefits that people demand. I think everyone should have to pay something.”

Inserted from <Think Progress>

If she thinks everyone should pay something, why won’t she focus on ExxonMobil, Bank of America, General Electric, Chevron, Boeing, Valero Energy, Goldman Sachs, Citigroup, ConocoPhillips, Carnival Cruise Lines and other giant US corporations that pay no taxes? Bachmann would make it easier for them to evade paying their fair share. Instead she would oppress the working poor that can’t afford the state income taxes, sales taxes, excise taxes, gas taxes, etc. that they pay now. For the millionaires, billionaires and criminal corporations, they would get the biggest tax cuts proposed to date.

Republicans do NOT represent YOU!

[spanone]

1. let's do away with taxes completely. including those that constitute bachmann's salary

[RevStPatrick]

2. Honestly? At this point, I wouldn't mind...

...a corporate tax rate of 15% if they ALL paid that, there were no loopholes and most subsidies were eliminated.

If Exxon/Mobil paid 15% and got no subsidies, that would actually be a pretty good scenario.

[lame54]

3. Except a 15% tax rate would =...

bigger tax returns

[rfranklin]

5. Except that they want to pay zero tax...

because they believe, with some justification, that corporate taxes are added to the sales prices and the consumer pays them anyway. However, the average corporate tax paid is 13.5% now, despite the right wing protestations of high corporate taxes, and that is amongst the lowest corporate taxes paid among the developed countries.

[lame54]

6. even then they would still get refunds...

the lower the tax the bigger the refund

[rfranklin]

4. But the people who pay FICA are funding their benefits...

This is the wilfull ignorance of the right wingers who ignore the taxes taken from paychecks and focus only on income taxes. Somehow, in their mental picture, all those FICA monies just vaporize and the income taxes are paying for everything. It is amazing to me that Dems never, ever call them on this canard.