Bachmann open to a ’0% corporate tax rate’

[Playinghardball]

Source: RawReplay
By David Edwards

Republican presidential candidate Michele Bachmann said Sunday that she was “open” to implementing Sarah Palin’s suggestion that all corporate income taxes be abolished.

“I propose to eliminate all federal corporate income tax,” Palin had said in a speech to the tea party in Iowa Saturday. “This is how we create millions of high-paying jobs… To eliminate any loss of federal revenues from this tax cut, we eliminate corporate welfare and all the loopholes, and we eliminate all the bailouts.”

“We could go that route,” Bachmann told CBS’ Bob Schieffer Sunday. “If we went that route then we’d have to have a fundamental restructuring of the tax code. I’m open to having that debate… What we do know is that the current corporate tax rate is killing job creation.”

“So you could see a way to do that?” Schieffer pressed.

Read more and watch the video from CBS’ Face the Nation, broadcast Sept. 4, 2011

http://www.rawstory.com/rawreplay/2011/09/bachmann-open-to-a-0-corporate-tax-rate/

[KamaAina]

1. And again, Bachmann Loser Overdrive is "Takin' Care of Business"

:eyes:

[Deep13]

2. I'd be okay with that if upper management and ...

...major shareholders where taxed at 1970s levels.

[Proud Liberal Dem]

3. Businesses have created jobs and hired people

at higher tax rates. The idea that we need to just keep lowering tax rates for corporations (and continuing subsidies) and they'll suddenly start creating jobs and hiring people again is outrageously ludicrous!
:wtf: :banghead:

[BOG PERSON]

4. in other words she just wants to make it official

(n/t)

[DFW]

5. Well, she's partially right, anyway

"This is how we create millions...."

At least that part is correct, if not the rest. That is indeed how one creates millions--for stockholders,
corporate execs and board members. If Bachmann thinks it will translate into better-paying jobs...but she
doesn't, so no issue.

[anarch]

6. well, this can only reasonably be balanced with a 100% tax rate on everyone making less than $100k

In fact, let's just reinstate slavery and get it over with, right Michele? Hell, she was already talking about eliminating the minimum wage or some such. Do republicans actually listen to what their "leaders" are saying? I mean, besides the rich elite who they so obviously serve to the exclusion of anyone else's interests?

[brewens]

7. Of course that would actually be a tax increase for some if it was enforced!

It's better than zero in reality for some corporations. They pay no taxes and actually collect subsidies and rebates.

[Booster]

8. We already have that so who needs her?

[glinda]

9. Because that is who she works for. Only.

[shraby]

10. If she were to eliminate all federal corporate income tax, why

would she bother to eliminate the tax loopholes??? They wouldn't be needing to use the loopholes anyway.

[sammytko]

11. Didn't palin say that they should be taxed?

It was in her speech yesterday.

[LonePirate]

12. I'm surprised some right wing state like AL or SC or TX hasn't already tried this.

I can only imagine the deficits, cut social services and political corruption a 0% corporate tax rate would generate.

[ecstatic]

13. Businesses don't hire based on taxes, they hire /expand based on sales

Higher demand = more need for employees. Why repubs, who claim to be the party of business, don't understand that is beyond me.

[durablend]

14. Oh they understand it

They just don't care...this is all just lip service to the unwashed. They have no plans to do anything for anyone but the uber rich.

[kestrel91316]

15. I will immediately incorporate my teensy weensy vet clinic if they do that.

They aren't going to make ME pay more just so the big boys can get away with free profits.

[tularetom]

16. On Tuesday I'm gonna incorporate myself

If Bachmann or one of these other slugs gets elected I plan on being prepared.

Thanks to Citizens United I'll still have all the advantages of personhood.

And thanks to Bachmann I won't have to pay no stinking taxes for it...

[treestar]

17. AS usual she has no proof it works that way at all

None whatsoever.

It's not even logical. A business will only expand if it markets new stuff or it sells more of what it offers. What has that got to do with taxes?

It is like saying that if our taxes were lowered, we'd get raises.

[alp227]

18. taking advice from Palin? jeez

it'll be a sad sad day when this fool wins the election

[Turbineguy]

19. But that's because

it matches her IQ.

[spanone]

20. maybe we should subsidize all businesses like the farm industry, eh dumbshit?

[sfpcjock]

21. I heard that, too, and this is SO WRONG of her!

0% would bring in NOTHING, and Bachmann should understand that as a person who is in fact a tax attorney by profession.

The usual thing you hear is that 39% Clinton tax rate is the "highest in the world", and therefore bad. First, it isn't true: France has a 41% real tax. Our 34% Bush corporate tax brings in 17% on average. Put that together with the fact that taxes are at an all time low and you've got an anemic revenue stream. These companies need to pay back to the system and infrastructure that allowed them to prosper, IMO!

The usual non-Bachmann change that is proposed is to have a 25% REAL corporate tax rate. That could even be OK. She is sneaky and knows that Obama may well propose that next week. So she is attempting to preempt the reasonable and sensible change, and in doing so curry favor with wealthy corporate political campaign donors.

[TwilightGardener]

22. So...which direction does everyone think the Citizens United money is going to flow this election?