Unemployment, Poverty, Police Violence, Iran… What Does Obama Think We Need In Response?

Answer: a corporate tax cut. No, really. As Robert Reich explains,

The Obama administration is proposing to lower corporate taxes from the current 35 percent to 28 percent for most companies and to 25 percent for manufacturers.

The move is supposed to be “revenue neutral” – meaning the Administration is also proposing to close assorted corporate tax loopholes to offset the lost revenues. One such loophole allows corporations to park their earnings overseas where taxes are lower.

Oh, right. And what happens if Congress, in response to his proposal, gives us a corporate tax cut WITHOUT closing any loopholes, as Republicans have already indicated they intend to do?

Read Reich’s post to learn more about Obama’s unforgivable utter stupidity. Where was Obama when they passed out brains?

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Comments

  • L'Enfant de la Haute Mer  On Friday February 24, 2012 at 8:03 am

    Children Living in High-Poverty Communities Surged 25 Percent Over Last Decade:
    http://www.aecf.org/Newsroom/NewsReleases/HTML/2012Releases/DataSnapshotHighPovertyCommunities.aspx

    • Steve  On Friday February 24, 2012 at 10:58 am

      55 Interesting Facts About The U.S. Economy In 2012. More or less at random, I chose one of these facts. Please glance at the entire list.

      [Fact] #20 According to the New York Times, approximately 100 million Americans are either living in poverty or in “the fretful zone just above it”.

      So how about working families; they’re doing all right, aren’t they?

      Well, NO.

      Both the linked article and the list of 55 above are by Michael Snyder. He predicts things will not get better any time soon.

      • L'Enfant de la Haute Mer  On Friday February 24, 2012 at 4:18 pm

        Steve,
        thanks for the very instructive links, (the NYT needs me to Log In)

        • Steve  On Friday February 24, 2012 at 4:35 pm

          Enfant, there’s a new post downstream that may interest you. It is about what David Dayen calls Europe’s “colonization” of Greece.

          In the US, accounts for the NYT are free, up to a fairly generous usage quota. If that’s not true for you, please email me, and I’ll see what I can do for you.

  • L'Enfant de la Haute Mer  On Saturday February 25, 2012 at 2:13 am

    Steve,
    Did my email reach you;

    • Steve  On Saturday February 25, 2012 at 10:37 am

      Enfant, yes it did. I’ve been asleep after a very long day, and I have more obligations this morning. I’ll answer sometime late this afternoon or early this evening.

      It’s about 10:30AM CST as I write this. (CST = GMT-6hrs).

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