Re: Obama and Corporate Tax Rates: Talking the Talk
by Anonymous
This is all the more reason to pass a VAT and Business Income Tax (a hidden VAT that is like a Corporate Income Tax with labor no longer deductible), with a supplemental simplified personal income tax for high earners and heirs. The VAT should cover non-entitlement domestic spending (both defense and non-defense), with the BIT paying for non-retirement entitlement spending, including Medicare but not retired survivors, and the personal income paying for foreign defense operations, net interest, military retirement and debt repayment (including reimbursements to the Social Security trust fund).
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