Today is

Tuesday, April 19, 2011

Whatever You Do - Don't Connect These Two Articles

ARTICLE #1

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

ARTICLE #2

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."

3 comments:

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

http://www.mcclatchydc.com/2011/04/18/112386/poll-best-way-to-fight-deficits.html

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