The Lack of Corporate Taxes

The Republicans currently make a big deal out of our budget deficit, and they want to make people think it's because of the Democrats. That's just not true though. A massive military build-up and two unnecessary wars by the Republicans turned a budget surplus left by President Clinton into a huge budget deficit under President Bush.

But those wars and military expenditures aren't the only cause of the deficit (and the debt). For several decades now, starting under President Reagan and kicked into high gear under President Bush, the Republicans have been in the process of shifting the tax burden away from the corporations (and the rich) and onto the middle class. Note that back in the 1950's, corporate America paid about 1/3 of revenues received by the federal government. That has now dropped to about 1/10 -- thanks to loopholes, subsidies, and allowing those corporations to hide money overseas.

And it's not like those many tax breaks are needed by those corporations. Most of them are making record-breaking profits, even before any tax considerations -- and they could afford to pay their share of taxes. But that won't happen until the GOP is voted out of power. That must happen before we can return to a sane tax policy -- a policy fair to everyone, and one that will reduce the deficit.