Corporate Taxes...

Let's be serious about corporate taxes. America has the second highest corporate tax rate in the world. The world! That's outrageous. But even more outrageous is the argument that, "Well, it's not really that high, because companies exploit the loopholes, so it's really much lower than that."

Really?

With 17,000 pages of tax code, do you really think there are loads of loopholes being exploited each year? At best, those loopholes are the "gray areas" that aren't perfectly explained. Some are willing to gamble on those gray areas...probably those such as Wal-Mart, General Electric, Exxon Mobile...the kind that can pay an attorney to handle their affairs if they are audited.

But the majority of businesses in this country are small businesses. In fact, Small Businesses represent over 95% of our economy. Most of these people are good, hardworking, honest people. They don't have the time or inclination to play fast and loose with the "gray areas". There are some selfish and greedy businesses, for certain, that will gamble, take risks, and press their luck with the "gray areas" of the tax code. But those people don't represent the majority of businesses, by far.

So when you hear someone say that America's extremely high corporate tax rate isn't real, that it's much lower due to exploits...don't be afraid to punch holes in their argument. They will eventually fall back to the GEs and Wal-Marts as the example...and if they think that it's ok for the majority of small businesses to be taxed higher because Wal-Mart can afford to skirt the rules, then your talking to someone that likely doesn't believe in capitalism, which as my previous post explained, is not failing.

Lower taxes are the key, and enforcement for those who skirt the laws. Or we could just do the simple, and probably smartest, thing and move to the Fair Tax or a flat tax.