Originally Posted by Villages Kahuna

Here's a link to an article from today's Wall Street Journal reporting that the corporate tax rate is the lowest that it's been in 40 years--about half of what it was when the U.S. economy was enjoying some of it's most vibrant growth years.

Tax Break Pushes Corporate Taxes to Just 12.1% of Profits, Lowest Level in 40 Years - WSJ.com

So the corporations seem to be doing fine. The wealthiest Americans are paying the lowest tax rates in decades. And we all know that going on 60% of all Americans are paying no income tax at all!

The standard mantra against raising the taxes on wealthy individuals and corporations is that "taxing the job creators will be bad for the economy". But like the 30-second ad on MSNBC asks--tax rates are at their lowest, so where are the jobs?

I'll make two observations...

• Keeping revenues paid to the government at the lowest rate in decades is as much a reason for our annual deficits and the growth of our national debt as spending.

• And, it looks to me like the lobbyists hired to protect the interests of the rich and the corporations are being quite effective.

What about us???