News
Bloomberg | Obama Readies Plan to Cut Corporate Tax Rate
The Obama administration will propose today reducing the U.S. corporate tax rate to 28 percent from 35 percent along with removing tax breaks for companies to help offset lost revenue, an administration official said.
CNN Money | More Americans plan to save, not spend, their tax refund
Americans are going to be a lot more tightfisted with their tax refunds this year, with more people planning to save the cash they get back from Uncle Sam instead of spending it.
NY Times | Obama Offers to Cut Corporate Tax Rate to 28%
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.
Econ Comments & Analysis
WSJ | Obama's Dividend Assault
President Obama's 2013 budget is the gift that keeps on giving—to government. One buried surprise is his proposal to triple the tax rate on corporate dividends, which believe it or not is higher than in his previous budgets.
Washington Times | Defusing Obama tax bomb
An election-minded Congress defused the Social Security payroll-tax cut issue last week, but a much more politically lethal time bomb is set to go off at the end of the year.
Washington Times | Cantor’s small-business drive
Small business has taken a beating in this brutal economy. Combine the developed world’s highest corporate tax rate with the constant stream of new regulation flowing from the Obama administration, and it’s no wonder the economy is stalled.
Blogs
The American | Why Obama’s corporate tax plan is a total bust
The current U.S. economic recovery is arguably the worst in modern American history. Incomes are flat, housing is moribund, and the past three years have seen the longest stretch of high unemployment in this country since the Great Depression.
