BeggarsCanBeChoosers.com
Thursday, December 13, 2007
Giuliani's Bizarre Solution To Spiraling U.S. Deficit: Cut Corporate Taxes
By MARC MCDONALD
The most bizarre statement made by any GOP candidate in Wednesday's Republican debate in Iowa was made when Rudy Giuliani responded to a question about how America can reduce its crushing government deficit.
What was Giuliani's solution?
Was it ending corporate welfare (which costs America $300 billion a year)?
Was it rolling back George W. Bush's fiscally reckless tax cuts for the rich?
Was it stopping the disastrous Iraq War, which costs America $11 billion a month?
Nope, it was none of the above.
To reduce our nation's crushing deficit, Giuliani proposed cutting taxes. Specifically cutting corporate taxes.
Giuliani didn't propose cutting taxes for hard-pressed working class or middle class people in this country. No, his priority is with corporations (most of which already avoid paying any taxes at all, thanks to loopholes).
Never mind that the whole idea of cutting taxes to reduce deficits is an idiotic idea that has been repeatedly debunked ever since it was first proposed by Ronald Reagan in the 1980s.
I find it incredible that any candidate can still be calling for trickle-down economic policies, after the experience of three decades has shown that it simply doesn't work and it only leads to spiraling deficits.
And yet Giuliani and other GOP candidates can continue to propose such nonsense and get a free pass from the MSM.
I find it interesting how Giuliani seems to think that cutting corporate taxes should be a high priority for America. Between corporate welfare and tax loopholes, most corporations already get a free ride in this nation.
The tax burden in the U.S. over the years has been shifting from corporations to individual taxpayers (as has been documented by Pulitzer Prize-winning journalists Donald Barlett and James Steele). In the 1950s, corporations paid around half of all taxes. Today, their burden has shrunk to less than 10 percent. In fact, today, 60 percent of all U.S. corporations pay zero income tax. Under a Giuliani administration, corporations can look forward to paying even less tax.
The most bizarre statement made by any GOP candidate in Wednesday's Republican debate in Iowa was made when Rudy Giuliani responded to a question about how America can reduce its crushing government deficit.
What was Giuliani's solution?
Was it ending corporate welfare (which costs America $300 billion a year)?
Was it rolling back George W. Bush's fiscally reckless tax cuts for the rich?
Was it stopping the disastrous Iraq War, which costs America $11 billion a month?
Nope, it was none of the above.
To reduce our nation's crushing deficit, Giuliani proposed cutting taxes. Specifically cutting corporate taxes.
Giuliani didn't propose cutting taxes for hard-pressed working class or middle class people in this country. No, his priority is with corporations (most of which already avoid paying any taxes at all, thanks to loopholes).
Never mind that the whole idea of cutting taxes to reduce deficits is an idiotic idea that has been repeatedly debunked ever since it was first proposed by Ronald Reagan in the 1980s.
I find it incredible that any candidate can still be calling for trickle-down economic policies, after the experience of three decades has shown that it simply doesn't work and it only leads to spiraling deficits.
And yet Giuliani and other GOP candidates can continue to propose such nonsense and get a free pass from the MSM.
I find it interesting how Giuliani seems to think that cutting corporate taxes should be a high priority for America. Between corporate welfare and tax loopholes, most corporations already get a free ride in this nation.
The tax burden in the U.S. over the years has been shifting from corporations to individual taxpayers (as has been documented by Pulitzer Prize-winning journalists Donald Barlett and James Steele). In the 1950s, corporations paid around half of all taxes. Today, their burden has shrunk to less than 10 percent. In fact, today, 60 percent of all U.S. corporations pay zero income tax. Under a Giuliani administration, corporations can look forward to paying even less tax.
Labels: GOP, Rudy Giuliani, tax policy
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