Pure BullShit

This is bullshit of the highest order.

The tax code needs to be modified so the large corporations, such as Exxon-Mobile, which made around $23 BILLION in Net Profit last year, and General Electric, pay some income taxes.  These two giant corps paid no income tax.  That is flat wrong.

And when it comes to personal income taxes, the kind where you fill out a 1040 or a 1040 A or 1040 EZ, the marginal tax rate needs to be increased to where it was during the Eisenhower and Kennedy administrations.  If you are lucky enough to be making $50 mil, say, what is wrong with paying a tax of 90% on everything over $5 million ?

Sounds fair to me.  You get to keep about $9.5 million, which is a hell of a lot more than most of us earn in a lifetime.

UPDATE:  I found this comment at The Daily Beast post.

Google alone has found a tax loophole that allowed them to not pay $60 billion in taxes. $60 BILLION!! Now we’re talking about putting a dent in the deficit. Thats just from ONE company. Companies like GE and Exxon paid ZERO taxes last year! ZERO! The amount of revenues lost by the tax evasions practices of corporations could be in the hundreds of billions. Another company that is not paying any taxes, but will make a killing off of the American taxpayer is Bank of America. This year Bank of America will not pay a single penny in federal taxes, but will get $1.9 billion dollars in tax credits. Bank of America will not be paying any taxes in the years to come. Every time you drive up to the pump, you pay more in federal tax for a single gallon of gasoline (18.4 cents) than ExxonMobil paid in U.S. income taxes in 2009. That’s in spite of the fact that the world’s second largest company had a gross operating profit of nearly $53 billion.

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