Ahhh, the weird, wild, wonders of Washington never cease to amaze.
Apparently, when a Democrat proposes a tax cut for the rich it’s an exercise in sound judgment, but when a Republican does it it’s an example of criminal mischief.
After eight relentless years of badgering George Bush and his corporate “cronies” for favoring wealthy corporations over the middle-class and the poor, House Ways and Means Chairman, Charlie Rangel (D-NY), and his fellow democrats have decided that U.S. corporations pay too much in taxes after all.
This is from a Bloomberg.com article titled Rangel Plans Push to Cut Corporate Tax Rate to 28%:
New York Representative Charles Rangel said he’s revising his tax overhaul proposal to reduce U.S. corporate tax rates to 28 percent, down from the current rate of 35 percent.
Rangel, in an interview with Bloomberg Television’s “Money and Politics,” said he’s changing the “mother of all tax reform” he unveiled in September 2007 to accommodate President- elect Barack Obama’s agenda. That earlier plan would have set the corporate tax rate at 30.5 percent.
Well, I guess we have to be on the precipice of economic doom for some lefties to be willing to put their partisanship and class-warfare demagoguery aside long enough to admit that taking capital away from the job creators and the wealth producers (i.e. the rich) ultimately hurts the poor and the middle-class.
Related Blog Posts:
The GAO Study on Corporate Taxes and the Scapegoating of Corporations
U.S. Corporate Tax Second Highest of 30 OECD Nations
Other Blog Posts and Articles:
Corporate Taxes in Need of Reform -The Brookings Institute
Corporate Tax Relief on the Way- PowerLine
2 responses so far ↓
1 Jean // Dec 11, 2008 at 1:38 pm
This isn’t any more of a surprise than the democrats behavior with regard to the $700 bailout and the current auto bill.
Republicans are the scapegoats for all the democratic nonsense. As a former NY’er, I am well aware of the political games of the party, particularly Rangel. Now living in Illinois, we have a crooked governor to deal with.
2 Peter // Dec 16, 2008 at 4:16 pm
Lord Acton said “power corrupts”, not “power corrupts only Republicans.”
By the way, Democrats scapegoat Republicans and Republicans scapegoat Democrats. There’s partisan nastiness on both sides.
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