Comments on: Obama’s corporate tax plan is a good start http://blogs.reuters.com/breakingviews/2012/02/23/obama%e2%80%99s-corporate-tax-plan-is-a-good-start/ Sun, 28 Apr 2013 15:49:48 +0000 hourly 1 http://wordpress.org/?v=3.4.2 By: jonnyberight http://blogs.reuters.com/breakingviews/2012/02/23/obama%e2%80%99s-corporate-tax-plan-is-a-good-start/comment-page-1/#comment-10500 jonnyberight Thu, 02 Aug 2012 08:16:45 +0000 http://blogs.reuters.com/breakingviews/?p=9609#comment-10500 I understand your point but I have to disagree. The fact is the top 1% of earners pay out over 22% of all Federal taxes. The additional corporate income tax is not on the rich, it’s a 15-40% tax on profits (usually 40%) that can be passed on to consumers in the form of higher prices, reduced wages, lack of benefits, forced early retirements, and low returns on investments. Almost everyone knows someone living in poverty because they fully depend on Social Security. Anyone that is ok with the idea of retiring to a trailer in Florida and receiving food stamps, then by all means support the tax increase. I have more to gain by opposing it. We already own the number two spot when it comes to corporate taxes and only behind Japan by 1%. How much more can our job producers endure? I understand your point but I have to disagree. The fact is the top 1% of earners pay out over 22% of all Federal taxes. The additional corporate income tax is not on the rich, it’s a 15-40% tax on profits (usually 40%) that can be passed on to consumers in the form of higher prices, reduced wages, lack of benefits, forced early retirements, and low returns on investments.

Almost everyone knows someone living in poverty because they fully depend on Social Security. Anyone that is ok with the idea of retiring to a trailer in Florida and receiving food stamps, then by all means support the tax increase. I have more to gain by opposing it.

We already own the number two spot when it comes to corporate taxes and only behind Japan by 1%. How much more can our job producers endure?

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