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The Obama administration is proposing to lower corporate taxes from the current 35 percent to 28 percent for most companies and to 25 percent for manufacturers.
The move is supposed to be “revenue neutral” – meaning the Administration is also proposing to close assorted corporate tax loopholes to offset the lost revenues. One such loophole allows corporations to park their earnings overseas where taxes are lower.
Corporations Don't Need a Tax Cut, So Why Is Obama Proposing One?
Seeded on Thu Feb 23, 2012 9:09 AM EST
Article Source: Common Dreams- Enjoy this article? Help vote it up the 'Vine.
- Public Discussion (1)
Mitt Romney wants to reduce the corporate tax rate to 25 percent before eliminating any tax loopholes. Rick Santorum wants to cut the rate to 17.5 percent and eliminate corporate taxes for manufacturers. Newt Gingrich wants to cut the rate to 12.5 percent and let companies write off all capital investments immediately.
Less revenue will certainly improve matters! Republicans just don't get it.
- 2 votes
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