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<blockquote data-quote="vantexan" data-source="post: 1053764" data-attributes="member: 24302"><p>One of Obama's proposals is to lower the corporate tax rate to 28%. Sounds great, but he wants it on all income earned both domestically and abroad. That would actually increase taxes on business. In the USAToday article they quote a business school professor who said that would push many corporations to move their headquarters overseas, which would protect their overseas earnings. These are the kind of proposals that they can't compromise on. Another problem is the concern that Obama would use any increased revenue to continue spending. He and the Dems have shown little desire to cut spending. We HAVE to get spending down to less than we take in. Not only to eliminate the deficit but to start paying down the debt. It's just not possible to keep adding to the national debt at this point and not expect a crash at some point.</p></blockquote><p></p>
[QUOTE="vantexan, post: 1053764, member: 24302"] One of Obama's proposals is to lower the corporate tax rate to 28%. Sounds great, but he wants it on all income earned both domestically and abroad. That would actually increase taxes on business. In the USAToday article they quote a business school professor who said that would push many corporations to move their headquarters overseas, which would protect their overseas earnings. These are the kind of proposals that they can't compromise on. Another problem is the concern that Obama would use any increased revenue to continue spending. He and the Dems have shown little desire to cut spending. We HAVE to get spending down to less than we take in. Not only to eliminate the deficit but to start paying down the debt. It's just not possible to keep adding to the national debt at this point and not expect a crash at some point. [/QUOTE]
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