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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: jlallen who wrote (253350)	5/7/2002 3:07:06 PM
From: Mr. Whist	Read Replies (3) \| Respond to of 769667

I have no problem with a comprehensive overhaul of the entire tax system ... from federal income tax to state income tax to city earnings tax to property tax to sales tax. What I do have a problem with are myopic so-called tax crusaders who argue that the corporate income tax ought to be abolished. No questions asked. Just abolish it. Hogwash. The corporate income tax currently provides 10 cents on the dollar to run the federal government. Ergo, if we eliminate the corporate income tax, we will then have to cut every federal program by 10 percent on average. Or else raise the rate on individual income. Eliminating the corporate income tax would mean that corporations like Enron would grow in wealth, whereas Joe Worker would, sooner or later, have to pay more income tax to make up for the 10 percent loss. Any corporate tax breaks ought to be tied to job creation, or leaving a manufacturing plant in the U.S. rather than shipping the jobs to China. Re: "Legal tax avoidance is no vice." We've had this discussion before. If Stanley Tools chooses to move its corporate HQ from New Haven to Bermuda, it's both unethical and unpatriotic, even though it might be "legal." That's where you and I differ. I care about jobs and keeping America (not Bermuda) economically strong. You, on the other hand, are mostly concerned whether or not it's legal, ethics be damned.