It’s Time the GOP Calls On Wealthy Corporations to Share the Burden
By EGP Editorial
Whenever we look at the budget cuts proposed by the Republican Party we have to throw our hands up in frustration.
Why is it that the GOP cannot bring itself to balance the budget with equal sacrifice by the nation’s wealthy upper class or its very profitable corporations?
We are not opposed to efforts to reign in Medicare and Medicaid costs, but we also think it’s time to eliminate some of the drain on the federal budget that comes in the form of tax breaks and loopholes for wealthy individuals and corporations.
The GOP theorizes that more tax breaks for the wealthy will lead to greater spending and investment by businesses and the wealthy, which will make its way into the pockets of average working class Americans. Well, Wall Street Stock Market averages have gone way up, and Main Street is still waiting to see if any of it will ever trickle down.
In this time of national fiscal crisis, when average Americans continue to face high unemployment, rising fuels costs, and higher costs for everything from food to clothing, it seems to us that the top corporate tax rates should remain at least at the current 35 percent if not slightly higher, and not reduced by 10 percent as proposed by House Republicans.
That slight increase may produce enough revenue to allow the government to pay for the healthcare Americans hoped would come under healthcare reform.Print This Post
April 7, 2011 Copyright © 2012 Eastern Group Publications, Inc.