NEW YORK - Democrat Barack Obama said he would consider trimming corporate tax rates as part of a simplification of the U.S. tax code if he is elected to the White House, the Wall Street Journal reported on Tuesday.
Obama said the tax code had too many loopholes and other special breaks for some companies.
"How much you pay in taxes as a corporation a lot of times is going to depend on how good your lobbyist is," the Illinois senator told the newspaper in an interview.
Corporate tax cuts, middle class tax cuts? Better be careful there Barack, you're starting to sound like a conservative! Might end up getting allot of those moderate votes with something like this!
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2 comments:
the bodega across the street from me takes in close to 500,000 a year gross...the 2 brothers who own it pull in about $45,000 each per year....those poor shlubs are somehow going to have to come up with an extra 10+ grand a year for corporate taxes (in addition to the cost of all their products and services going up across the board) they are close friends of mine and are very worried that obama has no idea what it's like to run a small business nowadays
They wont have to pay anything in tax. There net income is below 250k as u say it's 45k. The gross income is the revenue before they pay expenses to run the business, and that's not taxed.
So your friends will be getting more money, not less...
So what's the problem?
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