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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region Forums"Liberal group rolls out tax plan"
Liberal group rolls out tax planBy Bernie Becker at the Hill
http://thehill.com/blogs/on-the-money/domestic-taxes/330299-liberal-group-rolls-out-tax-plan
"SNIP..................................
Citizens for Tax Justice, a group which played a big role in the 1986 tax reform effort, rolled out a plan Wednesday that would raise some $2 trillion over a decade.
To get to that figure, the group calls for, among other things, rolling back the preferential tax treatment of capital gains and dividends. Instead, CTJ calls for a top rate of 36 percent for ordinary and investment income.
CTJ also proposes ending deferral, the provision that allows multinational corporations to push off paying taxes on offshore income until they bring the profits to the U.S.
Republicans and business groups also want to end deferral, but want to instead shield most offshore income from taxation.
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upi402
(16,854 posts)a party that would promote this.
I want my party back.
okaawhatever
(9,462 posts)in 2014 let's see if we can make it happen. Anything at this point that hurts corporations the gop will kill in the house.
upi402
(16,854 posts)okaawhatever
(9,462 posts)Both topics came up with the big tax budget. The 5% increase in the cap gains tax was sort of a best u can do for now scenario Obama
May 2009 Obama seeks to end Corporate Tax Break to raise $1980 Billion
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a4.7CIfqd5h0
September 2011 (this includes a few more things he wanted to get)
http://mobile.reuters.com/article/topNews/idUSTRE78B6SH20110912
The most recent, and most telling is from an article in July of 2013 by Ezra Klein
The difference between the White House and the House Republicans is how they spend the money. House Republicans use it to further lower corporate tax rates -- a move the White House considers irresponsible, as that's one-time money being put toward a recurring cost, and it'll open up a deficit hole in the future. The White House wants to use the money to finance a bunch of one-time investments in job creation, including a $50 billion infrastructure surge -- a move Republicans consider anathema, as it's a tax increase that's going toward new spending
http://www.washingtonpost.com/blogs/wonkblog/wp/2013/07/30/this-weird-little-policy-is-the-key-to-obamas-grand-bargain-on-jobs/
FWIW, I recently read that corporate America had spent one billion dollars lobbying congress about the tax code. That's Billion, dollars.