Wednesday, March 31, 2004

Picking up where I left off yesterday, there are better ways to raise funds and stimulate the economy than giving corporations a 1.75 percent lower tax rate. Here’s what I know. I’m sure you bright folks can add more:
1) Isn’t it possible to penalize companies that move their headquarters offshore? AT LEAST don’t give them government contracts. (I got that notion from Molly Ivins, whose figures on corporate tax rates differ from those I found on GPUSA. She agrees that corporations accounted for 25 percent of federal revenues in the fifties. But instead of saying their rate is now down to one eighth of federal funds, she says it was 10 percent in 2000, and only seven percent in 2001. Seven percent? Geez Louise.)
2) Make the wealthy pay social security taxes on more than just the first $72,000.
3) Roll back Bush’s tax cuts. Clinton raised taxes on the wealthy by 25 percent, and the economy did okay, right?
4) Reinstate estate taxes.
5) Cut payroll taxes for the poor.

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