Tuesday, May 05, 2009

Bearding The Lion In His Den

JurassicPork had a detailed post HERE of President Obama's frankly courageous stand against offshore tax havens, especially since they thought they were buying him off.

NY Times : The top corporate tax rate is 35 percent, but the Treasury Department estimated that in 2004, the most recent year for which data is available, American multinationals paid $16 billion in taxes on $700 billion in foreign income — an effective rate of 2.3 percent.

JurassicPork: With the average American paying an average tax rate of 20% or so, why is Joe Sixpack and John Q. Public supposed to feel sorry for corporations who ship jobs overseas and reduce our workforce so they can get around the minimum wage and occupational safety laws when their own average tax rate is 32.7% lower than the maximum?

Exactly so.

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Anonymous Wil Robinson said...

But I thought rich people paid most of the taxes? I thought it was the middle class that was sponging off everyone and getting away without paying taxes?

Are you saying that I've been lied to by ClearChannel and right-wing radio????

May 06, 2009 12:19 AM  

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