Corporations benefit from a variety of government programs, from infrastructure to education of the citizenry, even national defense and safety regulations. I know it's kind of lame to say, "give us money for these services we are assuming you are benefiting from," but why shouldn't they bear some of the cost? That's kind of what happens currently to taxes on citizens - my taxes go to public school funds, even though I don't have kids, and my taxes pay for the fire department, even though I've never had to use their services.
I know you said that $220b is a small number, but if you wanted to cut that, what would you put in its place so that the deficit wouldn't be even bigger? I dislike arguments saying that the money is too small to worry about, since even small figures add up. Would individual income tax rates have to be raised to make up for it?
I dislike point d. You are right, companies are able to reduce their effective rate to zero, but that to me is an argument to get rid of those tax credits.
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Date: 23/2/12 06:34 (UTC)I know you said that $220b is a small number, but if you wanted to cut that, what would you put in its place so that the deficit wouldn't be even bigger? I dislike arguments saying that the money is too small to worry about, since even small figures add up. Would individual income tax rates have to be raised to make up for it?
I dislike point d. You are right, companies are able to reduce their effective rate to zero, but that to me is an argument to get rid of those tax credits.