November 14, 2011

Make Them Pay

By admin

Citizens for Tax Justice and the Institute on Taxation and Economic Policy in the US research shows that nearly a third of 280 corporations surveyed didn’t pay taxes or even got a tax break.

More shocking with this news is that the corporations that were part of the survey – a mere fraction of the corporations in the US and Canada – received more than $223 billion in subsidies from various levels of US government.

All of this is proof that high corporate taxes are not the problem.

The more I read stuff like this, the more I want a simple tax system where there are NO deductions from income and a very reasonable and lower flat tax of, say, 10% on all activity.  This would solve a LOT of problems in most economies.

It would also put a lot of lawyers and lobbyists out on the street!