Unfortunately, several of the debt reduction proposals the president has offered involve tax hikes on corporations that would only hamper growth, handicap our ability to compete globally, lower tax revenues, and exacerbate the problem we’re desperately trying to solve.
In his talks with Republicans, President Obama has proposed a $72 billion end to the so-called last-in-first-out tax provision, a $43 billion tax hike on U.S. oil and gas companies, and in his February budget, the president called for $129 billion in higher taxes on overseas profits.
William O'Keefe, "What Obama Needs to Do to Save Our Economy." Fox News, 7/21/2011

Regards, Paul

Views: 8

Tags: cat, debt, recovery, reduction

Comment by Julie H. on July 24, 2011 at 8:51am

Nationally, one of the main public concerns is employment.  The country right now needs jobs, not just more corporate weath. According to USA Today's analysis of federal data, Americans paid the lowest level of taxes last year since Harry Truman's presidency. Here is the link: http://www.usatoday.com/money/perfi/taxes/2010-05-10-taxes_N.htm  

The Bush tax cuts are now 10yrs old, where are the jobs?  What proof is there that lowering taxes increases employment? I have yet to find any.

Comment by Richard V on July 24, 2011 at 1:04pm
gee, how much coddling do the rich need before they compassionately allow a few crumbs to "trickle" down to the rest of us? they tipped the boat over, not us. anyone who advocates their hineys should still be kissed has not been paying attention.
Comment by Richard V on July 24, 2011 at 1:04pm
gee, how much coddling do the rich need before they compassionately allow a few crumbs to "trickle" down to the rest of us? they tipped the boat over, not us. anyone who advocates their hineys should still be kissed has not been paying attention.
Comment by shotsie on July 25, 2011 at 5:57pm

It's always bad form to quote directly from a source without some italics or quote marks, Recovery Cat....

Also, should we subsidize cat food producers (who are making record profits) at the expense of dog food producers?  What about bird food, or hamster food?  Why should one species get a tax break, and not the others?  Why do the tax break at all - they're all mature industries...  The Laffer curve doesn't explain that, big cat.....

Comment by Doc Mara on July 30, 2011 at 9:16am
Oddly, corporate taxes have been going down for years, but unemployment is rampant and governments are collecting fewer taxes. If that logic worked, we would be in an economic utopia right now. We aren't.

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