Asked Why Workers Should Pay For Tax Cuts, Romney Repeats The Right-Wing Lie That We Need Lower Taxes On Business To Compete
Good old Mittens! He’s standing up for the rights of corporations to squeeze every last drop out of the U.S. treasury that by rights, belongs to them and their warrior class of entrepreneurial heroes. So much so, that when this man asks a rational question at a Rotary Club event, instead of answering him, Mittens repeats the right-wing lie that we have the highest taxes in the industrial world. He doesn’t seem to want to explain that the effective rate (that is, the rate paid after numerous deductions) is one of the lowest. That’s why we have so many giant corporations that not only pay no tax at all, they even get rebates. But Mittens insists they need even more tax cuts in order to compete: A member of the local Rotary Club stood yesterday to ask former Massachusetts Gov. Mitt Romney (R) a question weighing on the minds of millions of jobless Americans: At a time when corporations are sitting on record amounts of cash , why are the Americans who can least afford it being asked to shoulder the burden of trillions of dollars in potential budget cuts? But Romney dodged the question, ignoring the plight of the poor and unemployed, and instead launched into a speech about how American jobs were being outsourced to developing countries with cheap labor and miniscule tax rates because the U.S. has made itself unattractive to major corporations. Instead of sticking up for Americans who are facing cuts to the safety net programs they desperately need, Romney took the opportunity to proclaim that America’s problems could be fixed if it gave corporations yet another tax cut : QUESTIONER: We obviously need cuts to the budget…but many of the recipients of those programs are Americans whose jobs have gone places where labor is cheap. So corporate profits remain high and in some cases higher than ever. Is it fair to ask those Americans to shoulder reductions in favor of businesses and corporations who have sent those jobs overseas? ROMNEY: We need to make ourselves the most attractive place in the world for entrepreneurs and pioneers and businesses, just like it was when the Founders created this country. How do you do that? One, you make sure our employer tax rates aren’t the highest in the world . Right now they’re tied with Japan as the highest in the world. They’re about 10 points higher than the corporate tax rates in many of the countries in Europe.
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on July 18, 2011. Filed under