LOL, clearly...given that the US currently has among the world's lowest corporate tax rates and yet we're in such a marvelous economic situation right now
The failure of trickle-down economics in benefiting anyone but the corporations themselves has been made fairly obvious in recent years, especially over the last decade. I'm honestly surprised people still buy into this "taxes are bad for the economy" nonsense after all the damage done by trickle-down. Historically, the top tax rate was much higher (in the 1970s and previous).
Please explain how taxing Apple at a rate of 60% (assuming $26 billion in profit, leaving them with a paltry $15,600,000,000) would be bad for the economy. You do realize lower taxes = lower tax revenue and increased deficit, right?
Edited by Malcolm - 4/29/12 at 7:43am