I appeared on CNBC a couple of days ago to discuss a new report which claims that some big U.S. companies “only” paid 9 percent of their income to the government.
While I’m a bit skeptical of the numbers (did it include the taxes paid to foreign governments, for instance, which can be substantial for multinational firms?), I confess I didn’t read the report.
So I focused on the best way of getting rid of corrupt loopholes while simultaneously boosting the competitiveness of America companies.
In other words, I said we should rip up the wretched internal revenue code and implement a simple and fair flat tax.
As is my habit, allow me to emphasize a few points from the interview.
In Other News: List of "Useless Government Spending" Strangely Doesn't Include Biden's Salary | Michael Schaus
Today, at 11:20 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for October 22nd, 2014 | John Ransom
In Other News: Massachusetts School Board Moves to the Right of Democrats - Becomes Socialist | Michael Schaus
In Other News: Feds Strike Again! Ebola Strategy Suspiciously Similar to ISIS Strategy | Michael Schaus