Bernie Baake wrote:
He better hope he dosen't make more than 250K this year or his gloat will be seen as bloat and some redistribution of the wealth shall occur.
I definitely don't believe in tiered taxing, but what bothers me more is the plan to up corporate taxes, particularly big oil. While it does sound outrageous the sheer amount of profit that oil companies make, the reality is that they generally only make 10% on the investors dollar. Google, OTOH, has been making 23%! But the reality is that if you up corporate taxes like big oil, they are still under pressure to make their 10% (or more if they can). How can that be if they pay more in taxes? Simple. Charge the customer more. Which means corporate taxes are really just taxes on people buying things from said corporations, and in the case of oil that's pretty much everybody since even if you don't drive, you eat, and food gets shipped, too.
So upping corporate taxes like that is just a way to cheat the system...people don't realize that the corporate taxes affect them and thus just say "well, better the corporation gets taxed than me!"
So I guess I *do* prefer corporate taxes to raising the taxes on the rich even more, but that's just a personal preference.

I don't think that's necessarily good for the country, however.
--Donnie