08-15-2015, 12:35 PM
(08-15-2015, 12:22 PM)fredtoast Wrote: Specifics would be to close loopholes in the corporate tax and use the increased revenue to provide services that benefit the poor (education, transportation, health care, etc)
What drives me insane about conservatives it that they ignore the fact that corporate america is making all time record profits and act like they will have to shut down if asked to pay their employees a livable wage. The stockholders are amassing large amounts of wealth due to these record profits while taxpayers are paying benefits to their employees.
The reason is confusingly called “tax expenditures,” a doublespeak term designed to legitimize special interest tax breaks and loopholes.
Those ‘expenditures’ will cost the U.S. government $628.6 billion over the next five years, according to a 2010 report from the Tax Foundation. With advice from the Urban Institute’s Eric Toder, one of the country’s foremost authorities on corporate tax policy, we assembled the 10 most costly corporate tax loopholes and who benefits from them.
Read more: http://www.businessinsider.com/corporate-tax-breaks-2011-2#ixzz3itjwII5q
So you think that 628.6 billion over 5 years of increased revenue is going to make that big of an impact? That's roughly 125 billion dollars per year. Do you think that every state having an increase of 2.5 billion dollars to spend per year on social programs is going to make a dent in anything?
By comparison, it costs nearly 500 billion per year to operate the IRS.
