Quote:
Originally Posted by Villages Kahuna
In another thread here, it was noted that in the last three years 11% of the Fortune 500 companies have paid no income tax at all for the last three years. 28% of the Fortune 500 paid no income taxes in at least one of the last three years.
That being the case, what chance do you think that any of the tax revisions that you suggest get passed? With the amount of money that the non-tax paying companies will pour thru K Street into the pockets of the members of Congress, I'd suggest that none of these plans has any chance at all of enactment into law.
People can get all excited about Herman Cain's 9-9-9 plan, but about the only parts of that idea that have a chance of getting passed will total 18, not 27. There's no one to represent the public, so Congress might very well pass the 9% tax on personal income and 9% in additional sales taxes. But the chance of getting the 9% corporate income tax passed is zero, zilch, nada!
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This is exactly why "we the people" need to rally and vote OUT the incumbents, including Obama, and vote IN candidates who are committed to abolishing the current tax code and all its loopholes, and replacing it with a flat tax that brings back corporate income offshore, and accommodates lower income people, i.e. Perry's or Cain's (if thinking people will turn their minds toward the economy instead of the current "high tech lynching" of Herman Cain, a la Clarence Thomas).