Thursday, March 1, 2012

Romney on Taxes

Romney proposes more tax breaks for the rich. He would eliminate taxation of investment income, reduce corporate taxes, and eliminate estate taxes. After seeing the steadily increasing share of national income going to the top one percent, Romney wants to make it worse.
Reducing corporate taxes as a stimulus for investment is a myth. Corporations have a record amount of accumulated savings that they don't want to invest now. The problem is inadequate consumer demand, not corporate profits.

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