By Paulette Garin
http://paulettegarin.blogspot.com/
Paul Ryan’s recent editorial, We need to move from frustration to revitalization (May 6, 2009, Kenosha News) is just another slick example of how our Congressman supports his corporate cronies while disguising himself as a champion for his constituents here in Wisconsin’s First Congressional District. He proposes eliminating the corporate income tax and replacing it with a business consumption tax. This does not eliminate the tax burden, but simply shifts the tax burden to the end user – the consumer who will pay higher prices. The business will include the consumption tax in its Cost of Goods Sold, increase its sales price, and pay no tax on the profit/net income derived.
Good for Business, Bad for the Average Working American.
While we may have one of the highest corporate tax rates in the world, the effective rate (the rate at which the business actually pays) is one of the lowest. How so? The generous loopholes and unfair tax breaks a corporation has access to that the Average Working American does not. Corporate America does not pay its “fair share” of taxes now. Ryan wants to eliminate the corporate tax before the Obama Administration eliminates the tax loopholes.
Ryan blames the Obama Administration as continuing to advance the dangerous precedent set by the Bush Administration. Wait a minute. Didn’t our Congressman support the Bush Administration 94% of the time with his extreme conservative voting record for the past decade? Ryan is correct when he says, “Crony capitalism has never looked uglier and the consequences have never been more painful,” except he fails to acknowledge he is part of that problem and not the solution.
You might want to mention her predisposed prejudices against Mr. Ryan.
ReplyDeleteFred, You may want to mention your predisposed prejudices against anything positive.
ReplyDeleteFred just got PWNED
ReplyDeleteAnother failed rival, with no plan and no clue.
ReplyDeleteRyan is one of, if not the best member of the House of Representatives.
Ryan may be the best, but who is he the best for? He has not brought any bacon home to us from DC! He has not protected the district's citizens from the steady drain of good jobs. He has not acted to protect the citizens from the rapacious banks and Wall Street charlatans. No,he has aligned himself with the interests of the corporate leeches. Oh yeah, he panders to the religious wackos and the self imagined cowboys. The cowboys who eschew the individual's responsibility to the community and loudly proclaim their "self reliance". Ha! What is a cowboy? A cowboy is someone who can't get along with others so he gets sent out on the range, to tend the steers, where he won't annoy anyone. Then when he comes into town he drinks himself silly, shoots up Main Street and sleeps it off in jail!
ReplyDeleteRyan: Bring home the BACON!
Me thinks Paul Ryan is best at making himself look good on the national scene while totally forgetting who voted him in. I suggest that we do not forget this when it is time to renew his broken contract with us.
ReplyDeleteEnough said.
Yawn. More of the Racine Post anti-Ryan fetish.
ReplyDeleteShe mentions that "Corporate America does not pay its 'fair share' of taxes now." Please help me out - what would Corporate America's fair share be? 5%, 10%, 25%, 50%, 90%? I don't think Corporate America pays ANY taxes today - PEOPLE DO.
ReplyDeleteAnonymous said, "I don't think Corporate America pays ANY taxes today - PEOPLE DO."
ReplyDeleteIn US law, the corporation - the entity - is a legal person. And yes, they each pay as little tax as possible, same as you and me. We hope they do it within legal bounds, same as me and, I trust, you.
The problem comes when some firms arrange the rules that benefit them more than the rest of us at large. And who decides the benefits.
I know certain companies manage not to pay _any_ taxes. Also, the old Allis Chalmers company was worth more after it stopped production, because they had so much write down potential. There was a strong incentive to buy up sound companies, apply the tax write-down, and maybe run more companies into the dirt. Happy job hunting to those not on the gravy train!
We know Ryan's voting record - right there with Bush, through all the years the financial companies were getting out from under oversight. Is it any wonder some of us shudder whenever he suggests a change in the tax system?
So, that being said and Paul Ryan aside, what do you think a "fair share" for Corporate America would be? And speaking of "fair share," do you think it's appropriate that 43% of Americans don't pay any taxes? Or that the top 1% of earners pay 37% of the total tax burden? [GAO estimates]
ReplyDelete