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Taxation - progress & compromise

Created by J.G. on November 13, 2012

The U.S. has the highest corporate tax rate of virtually all the developed countries. Small and moderately sized businesses are hard hit by the tax burden. The current $250,000 bracket has not kept up with modern inflation, and many businesses are struggling to remain afloat covering both operational costs and salaries when a bad year means running up debt, and a good year pushes them into the higher bracket and money which should be spent paying off the bad year ends up being spent on an additional 10k in taxes.I propose that a) the higher tax bracket should be raised to $500,000, particularly for small 1-5 employee businesses b) that the overall corporate tax rate be lowered to stimulate economic growth and c) that all the tax brackets be re-evaluated to reflect modern realities.

Budget & Taxes
Economy & Jobs
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