Taxes

Bartlett, Bruce.
"Cutting the Corporate Tax Rate Is No Economic Panacea."
New York Times. N.p., n.d. Web. 12 Jan 2012.
Summary:
Many
Republican candidates have increasing turned to cutting corporate
taxes as the solution to a better economy. However, that solution
will only benefit a small number of corporations because most
businesses do not pay taxes as high as that of corporates. A study
has shown that only twenty-five percent of the leading corporations
have to pay the tax rate of 35%. Thus, corporate tax cuts will
benefit few wealthy companies while not having much impact on the
overall economy.

Connection:
The
Republican candidates similar responses about cutting income taxes,
corporate taxes, and regulations on industries comply with the
Republican party platform. However, they do not consider that
cutting corporate taxes will only benefits the biggest and most
wealthy corporations that already have surpluses in profits and not
the overall economy.


Reflection:
With
the worldwide “Occupy Wall Street” movement, it is surprising to
see the Republican candidates adherence to the party platform which
seems like it will work against their favor. Corporate tax cuts will
benefit many wall street companies, thus, wouldn't it cause greater
rage amongst protesters?