american citizen are living more than Dimmi status in islamic country, by paying 28% tax, dimmi give only 2% tax in islamic stat - call to robert spencer and murtad sina-faithfreedom international
American citizen is already slave in the hand of pentagon, so give vote to us(Islam-labour party), we will liberate you, and take not more than 5% tax for corporate business unit,
so this is called faithfreedom international by paying 30% tax on each and every transaction of corporate business.
the american citizen are
living under pentagon, is more than "DIMMI" status in Islamic country,
if we got elected we will propose only 5 % tax to corporate body, and we
will not take more than 5% tax in any other corporate business, or
business unit.
so now you can choose to give your 30% of income to other, or 5% of income to other,
so who is looting you , your own people, whom you given the authority to loot you,
so we islamic people are your liberator
http://www.nytimes.com/2012/02/22/business/economy/obama-offers-to-cut-corporate-tax-rate-to-28.html
Obama Offers to Cut Corporate Tax Rate to 28%
Andy Manis/Bloomberg News
Master
Lock's manufacturing plant in Wisconsin. President Obama wants to give
preference to manufacturers by setting their maximum effective rate at
25 percent.
By JACKIE CALMES
Published: February 22, 2012
WASHINGTON — President Obama
will ask Congress to scrub the corporate tax code of dozens of
loopholes and subsidies to reduce the top rate to 28 percent, down from
35 percent, while giving preferences to manufacturers that would set
their maximum effective rate at 25 percent, a senior administration
official said on Tuesday.
Andrew Harrer/Bloomberg News
Timothy F. Geithner, the Treasury secretary.
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Mr. Obama also would
establish a minimum tax on multinational corporations’ foreign
earnings, the official said, to discourage “accounting games to shift
profits abroad” or actual relocation of production overseas.
With
the framework for changes that the Treasury secretary, Timothy F.
Geithner, will outline on Wednesday, Mr. Obama will enter an
election-year debate with Republicans in Congress and in the
presidential race who seek even lower taxes for businesses. But an
overhaul of the corporate code is unlikely this year, given that
political backdrop and the complexity of an undertaking that would
generate a lobbying frenzy as businesses vie to defend old tax breaks or
win new ones.
The
campaign of Mitt Romney, a Republican candidate for president,
signalled that he would outline on Wednesday an expanded version of his
own tax proposals, which he said on Tuesday would call for a “flatter,
fairer, broader-based tax system” that would do more to encourage
economic growth. The various Republican candidates, who are scheduled to
debate on Wednesday night, have called for cutting the corporate
income tax, differing somewhat in the details.
The
administration plan to revamp a corporate code that is widely derided
as inefficient and anticompetitive has been in the works at Treasury
for two years, and is a priority of Mr. Geithner. Yet he has been
preoccupied with crisis management, and is unlikely to see the project
through since he plans to leave office after this year.
The
proposed overhaul “will help level the playing field for businesses
and allow the government to collect needed revenue while promoting
economic growth,” Mr. Geithner told a Congressional committee last week,
without details.
Republicans
and business groups complain that the 35 percent corporate tax rate is
among the highest in the world, leaving American companies at a
competitive disadvantage. They typically seek a 25 percent rate, with
many of them saying that the current tax breaks should be kept in place
as well.
Nonpartisan
tax analysts consistently find that corporations here on average pay
just slightly more than their competitors in other developed countries
after exploiting the many tax breaks and loopholes. Recent news
accounts have highlighted the low effective rates paid by companies like Google, Boeing and General Electric.
One
analysis concluded that 115 of the 500 companies in the Standard and
Poor’s stock index paid a total corporate tax rate — federal and
otherwise — of less than 20 percent over a five-year period. A study by
the Government Accountability Office in 2008 found that 55 percent of
American companies paid no federal income taxes during at least one year
in a seven-year period it studied.
“Under
the current tax system, the United States will soon have the highest
statutory corporate tax rate among developed countries, within a system
that features a large number of tax expenditures for special
interests,” said a senior administration official, who did not want to
speak ahead of Mr. Geithner except on condition of anonymity.
“This
puts American businesses — especially those in areas like
manufacturing that are subject to more intense international competition
— at a disadvantage. And this system is also unnecessarily complicated
for America’s small businesses.”
Earlier
this year, Mr. Obama proposed to end tax breaks for companies that
move jobs overseas and to create new breaks for those that bring jobs
back.
Corporate taxes
make up an increasingly small share of the federal government’s
revenue, in part because of tax-avoidance maneuvers by businesses.
Mr. Obama is proposing that
the simplification of the corporate code should not add to the deficit,
and that most or all revenue raised by closing tax breaks should be
used to lower rates or offset the cost of new or existing tax breaks
favoring manufacturing, clean energy, and research and development
activities, according to administration officials.
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