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*sigh* Why am I not surprised?
Gingrich says that GE is 'clever' for using every trick in the book to not pay taxes, and insists that the corporate tax rate should be lowered to 12.5% from 35%.
Newt, you amazing dumbass, if corporations are using every trick in the book to reduce their tax burden, what makes you think that they would stop if you lowered the tax rate? (No, I'm not suggesting that the corporate tax rate be raised.)
If you lower the tax rate, Gingrich seems to think that corporations will magically go "It's a fair cop, guv." and not use every trick in the book to still pay next to nothing (or nothing) in taxes. Better yet (for a given value of better), they wouldn't need to hire as many people to massage their tax burden, so they could let a few go. And increase their profits any more.
Let's get something straight. No one likes to pay taxes. Not normal people. Not rich people. Not poor people. Not corporate 'persons'. (Fuck you very much, SCOTUS, on the Citizens United decision.) But unless you close off tax loopholes when you lower tax rates, it just means you get less money to work with.
Of course, Newt is too busy claiming that finding Jesus has absolved him from being a cheating SOB, but surely there's some time to fit a math lesson in, hrm?
Newt, you amazing dumbass, if corporations are using every trick in the book to reduce their tax burden, what makes you think that they would stop if you lowered the tax rate? (No, I'm not suggesting that the corporate tax rate be raised.)
If you lower the tax rate, Gingrich seems to think that corporations will magically go "It's a fair cop, guv." and not use every trick in the book to still pay next to nothing (or nothing) in taxes. Better yet (for a given value of better), they wouldn't need to hire as many people to massage their tax burden, so they could let a few go. And increase their profits any more.
Let's get something straight. No one likes to pay taxes. Not normal people. Not rich people. Not poor people. Not corporate 'persons'. (Fuck you very much, SCOTUS, on the Citizens United decision.) But unless you close off tax loopholes when you lower tax rates, it just means you get less money to work with.
Of course, Newt is too busy claiming that finding Jesus has absolved him from being a cheating SOB, but surely there's some time to fit a math lesson in, hrm?