There are two large deficit reduction proposals floating around Washington now. One comes from the Bowles/Simpson cabal and one from a group led by Alice Rifkin.
Neither of those plans appear to deal with two facts of life.
1)U.S. companies are posting record profits. (See last post for numbers.)
2)According to the U.S. Accountability Office, between 1998 and 2005 (latest data available), two-thirds (67%) of all corporations operating in the U.S. paid NO taxes whatsoever. Read that again. No taxes, none, nada, whatsoever!! How much did you pay?
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