Leftists wake up, lower taxes equal more revenue

http://thinkprogress.org/economy/2014/02/11/3275731/state-tax-loophole-waters-edge/


States are leaving about a billion dollars in corporate taxes on the table each year, and all they have to do to scoop that revenue up is to follow Montana’s lead.

In 2003, Montana closed a tax loophole that companies used to evade state tax liability on profits stashed in offshore bank accounts. By erasing the so-called “water’s edge” loophole, the state brought in $40 million over the ensuing decade — a substantial figure for a small state that spends about $1.8 billion in a typical year. Oregon followed Montana’s lead last summer and expects to bring in $17 million in tax revenue from offshore corporate holdings this year alone.

If 21 other states and the District of Columbia had also closed their “water’s edge” loopholes, they would have brought in $1.015 billion in additional tax revenue in 2012




Contrary to the delusionalism of certain right wingers, higher taxes actually work.

 

I believe we need wartime tax rates, even for a War on Drugs.

 

Absolutely!

The wealthy have more revenue as a direct result of having their taxes cut.

And just look at all the GREAT jobs they have created.

Burger flippers. Stock boys at Walmart. Oh, the list goes on and on.

So let's just eliminate ALL their taxes, and see what happens next. Why, based on what they have done so far, it will be WONDERFUL.

GAAAG!

 

My reasoning is basically this: Since they are going to waste 1 Trillion dollars a year anyway, it would better to simply send all 300 million citizens a dividend check of $3300 dollars each year instead.

 

Solving for structural unemployment could be done with existing infrastructure, in a market friendly manner. We could be solving simple poverty through unemployment compensation that clears our poverty guidelines.

 

33% is still monstrously high.