WASHINGTON — President Obama will ask Congress to scrub the corporate tax code of dozens of loopholes and subsidies to reduce the top rate to 28 percent, down from 35 percent, while giving preferences to manufacturers that would set their maximum effective rate at 25 percent, a senior administration official said on Tuesday.
Mr. Obama also would establish a minimum tax on multinational corporations’ foreign earnings, the official said, to discourage “accounting games to shift profits abroad” or actual relocation of production overseas.
His proposal would close a lot of the present loopholes, which Republicans of course oppose.
Hat tip to R.K, who asks: Does crazy go to “11”? I was wondering, too, because I’ve heard so many similarly crazy things from Wingnut Nation in the past couple of weeks. Like this low-level politician from Fort Wayne who can’t bring himself to be associated with the scandalous abortion-loving, transgender-embracing Girl Scouts of America:
FORT WAYNE, Ind. (WANE) – A Fort Wayne lawmaker’s refusing to sign a resolution to celebrate the 100th anniversary of the Girl Scouts.
He says he chose not to because of things he uncovered about the organization while surfing the web. State Representative Bob Morris says he won’t sign it because the organization supports abortion and homosexuality. But the Girl Scouts of Northern Indiana – Michiana says it doesn’t do any of the above.
It was websites like Honest Girl Scouts and Speak Now Girl Scouts that persuaded Representative Bob Morris to not sign the resolution.
Morris sent a private letter to his party members over the weekend explaining why he’d be voting against celebrating the Girl Scouts 100th birthday.
“Mixed reaction and some eyes were opened,” (R) State Rep. Morris said.
He says he doesn’t have a problem with Girl Scout groups or troops locally here in Fort Wayne.
“The Girl Scouts of America 99.9 percent of them are great groups, great troops but the problem that I have is with Girl Scouts of America of the national level.”
Some websites claim The Girl Scouts of America donate funds to Planned Parenthood.
The Girl Scouts of Northern Indiana – Michiana released this statement about it:
“Neither Girl Scouts of Northern Indiana – Michiana nor Girl Scouts USA have any relationship with Planned Parenthood. No funds are allocated to Planned Parenthood. Neither organization has a programmatic relationship with Planned Parenthood. Neither organization has plans for any relationship in the future.”
Other sites also say The Girl Scouts promotes homosexuality by allowing transgender children to join troops
Gov. Corbett’s new budget proposal would cost the city $42 million in mostly mental health and addiction treatment funding, but city officials say the impact will be worsened by ensuing needs for emergency shelter, child welfare, and other services.
“Our first take is pretty negative,” city Finance Director Rob Dubow told the Pennsylvania Intergovernmental Cooperation Authority, the city’s financial oversight board, in a 15-minute presentation Tuesday.
Beside the cuts in aid to the city government, the Philadelphia School District faces an additional $21 million reduction in state support, due to the elimination of a “state accountability grant” program.