"Economists who have spoken with Mr. O'Neill and his staff said he seemed determined to eliminate or radically revise the corporate income tax, which he has long criticized as an inefficient, if not economically harmful, way of raising revenue, and to simplify personal income taxes."
it won't be the corporations.
This part is interesting:
"For corporations, the income tax would be replaced by a system similar to European-style value added taxes. Companies would be taxed at a flat rate on their revenues minus what they pay to other companies in the United States for goods, services and equipment."
You have the right to an informed opinion -Harlan Ellison
posted on October 17, 2002 07:11:06 PM new
Before Sept ll, the corporate tax cuts were the solution to the coming recession. Now, it seems that capital gains tax cuts and corporate tax breaks will aid our war against terrorism...per the National Taxpayers Union director of congressional relations Eric Schlecht.
As usual, the middle class will pay more and the wealthy will pay less.
posted on October 17, 2002 09:16:07 PM newAfter studying the issue for months and promising to make recommendations by the end of the year, Treasury Secretary Paul H. O'Neill told an audience in Iowa today that he intended to deliver options to the White House in a few weeks.Aides said he meant some time after Election Day.
You can be damned sure that it'll be after Election Day. LOL!
