Anybody wanna free lunch?

When corporations are taxed, who really pays?

Higher Taxes here we come!

Great segment on The Kudlow Report should prepare us for the coming tax storm; it looms ominously before us. It looks like Democrats will start with the "evil" hedge funds and capital investment firms. With the massive health care bill they will slice and dice the rest of the 95% that Obama said he wasn't going to tax.

Obama officials: Taxes may rise to pay health care

Barack Obama constantly repeated that taxes would not rise for the middle class during the Presidential campaign. Well, so much for that.

President Obama's Deferral Proposal: Hamstringing American Companies, Reducing American Jobs

The latest video from Dan Mitchell and the Center for Freedom and Prosperity Foundation highlights the issue of Obama's proposal to severely restrict the "tax deferral" for American companies trying to earn market share in other nations. My favorite line by Dan Mitchell in this video regards politicians and tax revenue: " Politician's love tax revenue, it's like crack to them."

Windfall profit taxes for everybody!!!!

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Here is a list of industries and companies that have made quite of bit of profit for themselves. Look at where oil companies sit on the list. Wouldn't it be fair and just to go after all those companies and industries that made more or just as much profit as the "evil" oil companies?

Windfall Profits Tax = Higher gas prices

From SFGate: Senate Democrats on Wednesday called for a windfall-profits tax on oil companies...The proposal also would impose federal penalties on energy price gouging and calls for stopping oil deliveries into the government's emergency reserve.

The proposed 25 percent profits tax would apply only to windfall oil company earnings above what would be considered reasonable and only if those profits are not reinvested in refinery capacity expansion or renewable energy sources, according to a summary of the proposal.

Comment: In another case of politicians telling the public what it wants to hear, we now have some liberal democrats pushing for an economic experiment that has been tried in the past and failed—the windfalls profit tax. Of course, these skillful sophists are betting that most of the American public has nary any memory of the 1980’s, the last time these taxes on oil companies were tried and were shown wanting (1980-1987): Windfall profit taxes brought less domestic production and MORE dependence on foreign supplies of oil. This is not what we need right now or in the future--higher gas prices.

Instead of trying to correct popular economic misconceptions, these guys indulge them for political gain at our expense.

Europe has lower corporate tax rates.

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Is it time to get rid of the corporate tax? I was watching Larry Kudlow on his “Kudlow and Co.” show the other day when he mentioned this. After doing some snooping around, I was surprised to discover that more than a handful of nations in the European Union have cut their corporate income tax rates over the last several years or so. I was surprised by this since as Americans we tend to view European governments as being high tax and state-welfare havens. In the last six years, 16 E.U. nations have cut their corporate tax rates. Even France and Sweden have lowered their corporate rates to business friendly levels. The U.S. has kept its rate at roughly 40 percent (Federal and State combined). Now that our country is facing a severe slowdown in the economy, wouldn’t it be prudent to at least lower our corporate tax rate in order to create an incentive for companies to invest in our country? It seems that we may be at a disadvantage when compared to many European nations that have lower rates. We should not discourage job creation and capital investment at such a critical time. For a study on our corporate tax vs. E.U. corporate tax, see Tax Foundation