02
Mar
11

Those trees you’re staring at are part of a forest, dude

This from the Off The Charts Blog:

Myself, I’d like to see something revenue-neutral that rips out a bunch of targeted tax breaks and subsidies.  But Chuck Marr treats us to this howler:

Corporate tax revenues are now at historical lows as a share of the economy (see graph), at a time when the nation faces deficits and debt that are expected to grow to unsustainable levels. […] Moreover, when measured as a share of the economy, U.S. corporate tax receipts are actually low compared to other developed countries.

There’s a fucking recession on, Sparky!  What the bleeding fuck do you expect to happen to CIT receipts?

Actually, I really like the proposals in that article, particularly the emphasis on reducing debt incentives.   But come on, man: don’t piss on my leg and tell me it’s raining, and don’t cite “historically low” CIT receipts in the biggest fiscal shock since 1929 and tell me that rates are too low without even mentioning the housing bubble or the credit crisis.

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5 Responses to “Those trees you’re staring at are part of a forest, dude”


  1. 1 aczarnowski
    March 3, 2011 at 15:35

    This post handily wins “Best Title” for my net wander today. Also, appropriate cursing. I have no prestigious award lamps to ship to you unfortunately.

  2. 2 perlhaqr
    March 28, 2011 at 09:13

    I would just as soon see corporate tax rates set at 0%, since anything they get charged is just going to wind its way into the final price of whatever I’m buying anyway.

    • March 28, 2011 at 13:18

      So would I, but that’s rather unlikely to actually happen. If we’re going to have a CIT anyway, I’d rather that it distort prices as little as possible.

      • 4 perlhaqr
        March 28, 2011 at 19:52

        Yeah, this is one of those “anarchist vs: pragmatist” tension moments. :)

        • March 28, 2011 at 19:57

          I see it as more of a “near-term” vs. “long-term” tension. Long-term — maybe even before I die — we’re probably going to get rid of corporate income taxes following precisely the reasoning you present. Near-term we’re either going to focus on deficit reduction (and near-term that’s only viable by both spending cuts and tax revenue) or we’re going to blow up the world economy, and I’d really prefer we did the former.


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