Tuesday, May 21, 2013

Tax Idiocy on Capitol Hill

Why it only seems like yesterday that a Republican presidential nominee was lecturing us that it would be inappropriate to pay even a penny more in taxes than the government requires him to pay - that doing so would demonstrate that he was unqualified for the job of President. (And a little bit more recently, after he deliberately overpaid his taxes to avoid contradicting a prior claim about the percentage of his income he pays in federal income tax, that the electorate seemingly agreed with him.)

Now, the Senate Permanent Subcommittee on Investigations is concerned that Apple is paying only the taxes it's legally required to pay, and is taking full advantage of the massive loopholes that... yes... Congress wrote into the tax code, or at best has deliberately failed to close, to benefit companies like Apple (and individuals like Mitt Romney).

You know what Congress should do if it's concerned that corporations aren't paying enough tax? I'll give you a hint: It's not "Hold hearings to hear CEOs explain why their companies are not voluntarily paying more tax than the law requires....

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