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Corporate Tax Rate Reduction Proposals--Are Some "Persons" Better Than Others?
by Roy Batty Sunday, Feb. 26, 2012 at 10:29 PM
If history holds true, corporations will continue to get their tax reductions and their write-offs. And "close the loopholes" hoopla can be saved for the next election.
I'm just starting to get used to the idea that corporations are people, entitled to express their political viewpoints and to spend as much money as they want communicating those viewpoints. I'm still a little shaky on the the concept. After all corporations cannot be prosecuted for murder. A corporation can't even get a parking ticket! That added to fact that shareholders (real people) enjoy limited or no liability for a corporation's debts or crimes.
But hell, this is the 21st century where anyone with the money and the guts can breathe life into a legal fiction.
But last week, President Barack Obama proposed cutting the top corporate rate to 28 percent from 35 percent, addressing a long-standing gripe by U.S. corporations that the rate is too high.
Republican hopeful Mitt Romney also unveiled proposals of his own calling for capping the individual income tax rate at 28 percent, down from 35 percent, and slashing the corporate rate to 25 percent, among other steps.
Now I'm starting to feel queasy again.