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Tuesday, April 19, 2011

Whatever You Do - Don't Connect These Two Articles


Super Rich see taxes drop while nearly half of US households pay no federal income tax.


The Super Rich Say Fix deficit or risk credit rating.

How to balance budgets and begin buying back our debt in less than ten years

Chicago Tribune Excerpt:
In all, the tax code is filled with a total of $1.1 trillion in credits, deductions and exemptions, an average of about $8,000 per taxpayer, according to an analysis by the National Taxpayer Advocate, an independent watchdog within the IRS.

Fix that without exchanging it for a new massive tax cut and create an Alternative Minimum Tax for S & P corporations like GE so they never again suckle on the taxpayer's teat for $3 billion in subsidies. A Corporate AMT beginning around 20% would be great way to kick off the "reform."


Democurmudgeon said...

The idea of an AMT for corporations is something new for me. Great idea.

Lou Kaye said...

Unfortunately, I can't take credit for it. I found different versions of the idea in several major newspaper comment sections over the past two months, but I never heard of it before that.

Anonymous said...

And this.
Poll: Best way to fight deficits: Raise taxes on the rich

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