Michele Bachmann Wants More Tax Reductions for the Wealthy

With tax loopholes and economic platforms utilized by Corporations, some of which pay no taxes while sending jobs overseas, Michele Bachmann wants to be even more generous to them.

 

During an interview with the Wall Street Journal, Rep. Bachmann (R-MN) decided to best both Romney and Pawlenty, prompting for a reduction in the corporate tax rate to 9 percent. With a slap in the face to the middle class, Bachmann wants to pair that enormous tax cut with giant tax reductions for the wealthy, as well as a tax increase on the working poor:


 

In my perfect world,” she explains, “we’d take the 35% corporate tax rate down to nine so that we’re the most competitive in the industrialized world. Zero out capital gains. Zero out the alternative minimum tax. Zero out the death tax.” […]

Her main goal is to get tax rates down with a broad-based income tax that everyone pays and that “gets rid of all the deductions.” A system in which 47% of Americans don’t pay any tax is ruinous for a democracy, she says, “because there is no tie to the government benefits that people demand. I think everyone should have to pay something.”

 

It’s obvious Bachmann is campaigning and she is well aware of how to bring in money, which is why she’s still given any form of value from the Right.

 

On Medicare:

 

She voted for the Paul Ryan budget—but “with an asterisk.” Why? “The asterisk is that we’ve got a huge messaging problem [on Medicare]. It needs to be called the 55-and-Under Plan. I can’t tell you the number of 78-year-old women who think we’re going to pull the rug out from under them.”

 

Those could be the same seniors Republicans intentionally misinformed on Obama’s new Health Care Law, saying children (namely Palin’s) will stand in front of death panels. But, no, these seniors are concerned about their offspring and the future of this country.

 

Corporations are heralded by Republicans as ‘economic development.’ But, it’s corporate welfare. Jobs which they are supposed to be developing, are going overseas while their profits are presently soaring. The government subsidizes Corporations at the expense of taxpaying individuals — yes, that’s us.

 

Meanwhile, Corporations are sitting on trillions of dollars — and Republicans want to give them even more — while they take from the middle class.

 

H/T Think Progress

  • http://jim-heftyinfo.blogspot.com Jim Irwin

    Michele Bachmann … consider the source.

    Enough said!

    • http://FreakOutNation.com Anomaly100

      @Jim Irwin, Duly noted!

  • Shiva

    I have no problem with everyone paying. As long as everyone is working. And seeing as how the corps arnt going that route, they need to pay to make up the difference.

    Tax the overseas profits at a higher rate than the domestic profits.

    • OMGawd

      @Shiva,
      “As long as everyone is working” – Speaking of jobs didn’t House Republicans promise them?

  • Sally

    Funny how all these pols who want to tax the rich even less (or not at all!) are all millionaires.

  • Michael N.

    What an idiot she is! The wealthy should be paying more, as they have more to spend. Extra taxes on the wealthy wouldn’t be a big deal to them, but to tax the middle class even more? What the hell is wrong with you, Michele? Some people have problems with how it is now, and you want to make it worse. It absolutely stuns me at how unintelligent some people are, especially those in politics.

    • corey

      @Michael N.,

      The wealthy have more to spend and they usually do… They have bigger houses therefor they spend more in property taxes… They purchase more therefore they spend more in sales taxes. They usually hire workers to do various jobs like landscaping and cleaning therefor creating jobs. Take more of their money and u take jobs and other taxes. I know plenty of people who pay 0 into federal income tax and get $5,000 back. So who isnt paying their fair share?

      • Scott

        @corey,

        Really? You’re claiming the trickle down theory? You are basically supporting throwing a middle man between the lower class and financial stability. You want that middle man to be people that are already rich. Why even bother giving the rich the money they don’t need, a drop in the bucket, when you can simply support the poor directly with it?

        Honestly, what is the point of your claim? No offense, but it sounds like something that is spouted on a biased news source, because they had to say at least SOMETHING since they are being funded heavily by the people that such policies would benefit.

        • corey

          @Scott,

          Its not a claim its a fact… You dont support the poor by giving them free money. You make them lazy and not care about making something of themselves because hell… Who wants to work when you can get food stamps for free.

          Why does it always come back to a biased news source lol. Its just the truth the wealthy create jobs. You dont see a guy with 12 kids on welfare and food stamps employing people.

      • John in Bachmann’s district

        @corey,
        Wow! Do you even realize that the top 400 taxpayers in this country have more wealth than the bottom 150,000,000 (that’s 150 million)? Do you know the top 2% have 80% of our nations wealth?

        Tax cuts don’t create jobs. Demand does. It’s a basic economic fact. Did you even take an economics class? Or are universities too liberal for you?

        As for your the rich spending more…how many basic necessities do you think they buy? Giving more money to a rich person so he/she can buy another yacht sure as hell isn’t the same as the average person trying to figure out how to put food on the table, or keep the heat on in winter, or a roof over their family’s heads.

        Take the tea bag out of your @ss!

        • corey

          @John in Bachmann’s district,

          Yea and the top 2% also pay how much of the nations taxes? While the bottom 45% pay nothing. But the rich can pay a little more.

          Tax cuts don’t create jobs has to be the dumbest thing ever. You obviously never ran a business and probably haven’t worked for one either but if you are a owner of a company the more money that they don’t take… The more money you can invest in your company.

          Of course you have to sell a product that people want. That is why you have successful company’s and ones that fail.

          Also a rich person that buys a yacht pays more sales tax on that then the bottom 45% pay in taxes… But they can pay a little more. I’m an average person and my family won’t go hungry and will always have heat and a roof over their head. But not because the government is gonna give it to me but because I’m gonna work for it.

    • charlie

      @Michael N.,

      it surprises me at how many people think that at gunpoint you can just take what someone else acquires. That’s basically what happens through taxation… because if you don’t pay your taxes you will be forcibly taken to jail, and at gunpoint if you resist. Some people are good at making money and know how to do it… GOOD FOR THEM! They figured it out and hopefully through their FREE CHOICE they help less fortunates out. If they don’t though, shame on them… BUT you can’t just put a gun to someones head and FORCE them to give away their money because you and a committee of other people vote that you think that’s right. Jesus… just leave everyone alone and let them do their own thing. There wasn’t even taxes (or very minimal taxes) throughout the history of the world!!!! Google the history of taxes and see what you find out. I say everyone should be free to do what they want as long as they don’t hurt anyone or coerce anyone. Period bottom line.

  • http://www.politicsplus.org/blog TomCat

    Great minds fall in the same ditch, Ano. ;-)

  • http://www.oilviscositychart.net/ archana

    Equal distribution is one of the most important condition for better society.If wealthy guys wont pay tax then who will?

    • corey

      @archana,

      Wealthy guys do pay taxes. Do you forget who pays the most taxes in the country?

      • drklassen

        @corey, They pay a smaller percentage in taxes than they own of the wealth.

        • Corey

          @drklassen,
          So u want them to pay 90% and give it to the govt who doesn’t know what they are doing with the money they collect now. It’s been said over and over again but people still don’t get it. We don’t have a revenue problem. We have a spending problem.

        • drklassen

          @Corey: No, it is indeed a revenue problem. Spending is actually far to *small* when you consider the state of our infrastructure and healthcare.

          And, yes, I’d LOVE to have us some Eisenhower tax rates. Of course, if you hit the rich with those rates, they will have far less incentive to rape the productivity of their workers; rather than take it then give it to the government, they *might* just think about actually paying their workers a living wage.

  • http://samsonblinded.org/blog/ Mark @ Israel

    Is she out of her mind? Does she want the working poor to suffer more? The rich and wealthy has so much that a little tax increase won’t hurt but for the poor and the middle class, oh man, it’s going to be miserable.

    • Agnoa

      @Mark @ Israel, yes, I don’t understand why the poor people that vote Republican can’t see that Republicans care nothing about anyone that doesn’t make over a million dollars a year. They receive trips on the yachts of Billionaires for their cooperation with the big Corporation CEO’s to try and get lower taxes on them.

  • Neosopheus

    With a congress made up of mostly millionaires, do any of you really think they are going to vote to raise taxes on themselves?

  • Leslie Schwartz

    Michele Bachmann, “Her mouth boldly goes where her brain has never been before.”

  • Dom

    I think we should give tax breaks proportional to the amount of US jobs they create. More US jobs=less tax. That way rich people wont have to bitch about paying too much in taxes and the poor people will actually have jobs to pay for some of the taxes.

  • LTM

    Could someone please hit this woman with a pie or something. I’d like to get a chuckle from something that happens with this woman; not get angry everytime she opens her mouth

  • Adrian

    The corporate tax is not the same as taxing the wealthy. The wealthy are taxed when they sell their shares or they get their dividends.

  • http://www.gorgeousworld.net/ Eric

    “take the 35% corporate tax rate down to nine”…increase taxes on the working poor

    Because the American ultra-rich deserve to sit upon solid gold, jewel-encrusted toilet seats and wipe their asses with the finest Asian silk – while the middle-class continues to live paycheck to paycheck – and the poor struggle to find the cash for the next meal.

    God bless America….my ass. Another dyed-in-the-wool ultra-right-wing conservative pissing on your leg and telling you it’s raining.

  • http://www.hghreviews.org/ Glen

    If only I were enough of a “winner” to be born into money.

    • corey

      @Glen,
      Yes because a person born poor never made it rich! Maybe if you were intelligent you could make something of yourself instead of hating on your parents for not giving you free money.

      • Zero

        @corey,

        Interesting you mention “hating on your parents for not giving you free money.” If that is the case, why the obsession with eliminating the death tax? Oh, because it’s perfectly correct for parents to give free money when they are rich so they can perpetuate how rich the family is. Who needs to invest or work when they can live off of mommy and daddy’s money forever.

        • corey

          @Zero,

          Its already money that has been taxed… Its taxing something thats already been taxed.

  • http://www.penisenlargementmethods.net/ Kevin

    Not as likely if the rich are given huge advantages like tax breaks and the poor don’t have any money to invest in ideas, education, etc…

    • corey

      @Kevin,

      Guess what the poor don’t pay taxes usually!

      • Tim

        Your knowledge of the fiscal sectors in this country is astoundingly low. You’re argument is limited to federal tax only. Depending on where you live, there is also state tax, city tax, district tax, and sale tax. So lets say you making 70k a year in NY. They have all 5 of those taxes. After net, that person is making about 40k, even though there federal tax level is 28%. Moreover, cost of living has skyrocketed in the past 10 years. Gas at $4 a gallon and food going up 25% since 2005 due to agricultural lobbying and failed captialistic ventures. Remember how ethanol cars were the cars of the future? Yeah Corn makes ethanol and cows eat corn, less cows equals less milk,hence a gallon of Milk went up to 5 bucks.
        I live in FL, make $120k a year, paid about 40k in taxes last year, plus about 10k in property taxes. Even with all those taxes, I can still afford basic costs of living such as food,gas, and utilities. And I’d have no problem being taxed a couple percentage points higher if it meant someone else in this country wasn’t going hungry or had to choose between gas or electricity. Yeah there are people who milk the system for unemployement checks and welfare, but the majority of the poor are struggling to make ends meet honestly. And the wealthy are not helping by complaining about a couple percentage points from their federal tax bracket.

        • Corey

          @Tim,
          Food goes up because gas prices are high and the dollar is worth less. Inflation. I suggest u donate an extra percentage point of your income to a good charity. You should trust them more then the govt to do what’s right.

  • http://www.sextoysdiva.com/ Kyle

    Times change. There is almost no chance for upward mobility. The rich controls the money and knows how to keep it. It’s happening all over the world and will in America, the French Revolution. The rich (politicians) are our modern day Marie Antoinette. Let them eat cake!

    • John in Bachmann’s district

      @Kyle,
      You are so right! If things don’t change (and I don’t expect they will), we will have our own French Revolution here in the US. Only instead of a monarch being executed, it will be congress.

  • Driverside

    Republicans have been cutting taxes on the rich for over thirty years. Wealth is now concentrated among a very few at the top and our economy is in deep recession.

    Tax the rich, give to the poor and they will spend, and the money will work it’s way back up to the rich, who will pay more taxes, and we will have a thriving economy.

    • corey

      @Driverside,

      Give to the poor for doing nothing??? How does that make sense? Free money yea that helps a society.

      • Zero

        @corey,

        If the poor cannot buy products, then the rich can’t sell products to them. Demand goes down, profits go down, thus jobs are cut to keep the profits up. Thus begins a cycle where less money is spent in the economy, which causes a drop in profits, which causes the removal of jobs, which causes more people to be poor, which causes a drop in demand, which results in less money spent in the economy to perpetuate the cycle.

        The most prosperous times of this country have been when the Rich were taxed more and the poor had more money to spend.

        • corey

          @Zero,

          Yea the problem is the poor cant afford anything… Tell that to China who is reaping the benefits of us buying products… Why is that??? Because they dont have the regulations and corporate tax that we do.

  • Chris

    Pure unmitigated class-warfare prattle for weak-minded panhandlers.

  • John in Bachmann’s district

    Tax cuts create jobs, huh? No. DEMAND creates jobs. Think about the reverse. Why do people lose their jobs? People stop buying a product (wether economic factors or personal tastes) and a company begins to lose money. Does the owner of that company keep his excess employess because he got a tax cut? Hell no! There’s lower demand for his product. Which means less revenue, which means less profit. How do you keep a positive profit? Cutting costs. And the first thing to go is excess labor.

    If you want to create jobs, you have to reverse all that. Starting with demand. But Republicans don’t understand that because facts have a liberal bias.

    • corey

      @John in Bachmann’s district,
      So if a company sells a product that has no demand giving free money to poor people is gonna help???

      Look how succesful Apple is. You dont think any poor people buy Iphones or macs? Your not gonna make more demand by giving poor people free money. You create jobs first.

      Whats it like going through life being wrong all the time?

      • Zero

        @corey,
        Apple is successful because they are a luxury product. How is giving money to the poor going to help? Easy, they’re going to SPEND that money. That means that the poor having money creates demand for those products, which generates jobs.

        • corey

          @Zero,

          Apple is a luxury product??? I think alot of people have iphones that make less then 40K a year.

          So where is it gonna generate jobs??? in china? yup. Our country is the worst country to have a business in because of all the corporate tax and regulations. But thats because people are to good to work for an honest living because they can get enough to get by from welfare.

        • Zero

          @Zero,

          Of course it is a luxury product. It’s not necessary at all, it costs a lot and has a high profit margin for the company. No one who is living off of welfare (not counting fraud) has enough to be able to afford an Apple product on their own.

          I fail to see how our country is so bad when a company like GE can make billions in profits and end up, via loop holes and the like, ending up with tax BENEFIT rather than actually having to pay any taxes. With all the billion dollar companies that thrive in the US, it would see it’s not so bad here for corporations.

          To use your example, if demand for Apple products increases what do you think will happen? All the Apple stores around the country will need to hire more people to meet the demand at the stores. Apple is hiring more and more software and hardware developers to create new products due to demand for their existing ones which generate massive profits. The distributors who ship Apple products around will hire more people as they have to ship more and more product. Jobs would get created in the US. Just think about it.

  • Bill

    The last thing we need to do right now is increase taxes on wealthy people. Have you ever heard of poor people creating jobs? My business has been almost wiped out by the recession and I lost my credit line. Thank God I have a “wealthy” business partner with plenty of cash to fund my operations.

    OMG, we are nearing a double dip recession and all you do gooders can think of is going after rich people? Leave them alone! They are the ones capable of investing the money to bring unemployment down from 9%

    • OMGawd

      @Bill, You said we should increase taxes on the wealthy so do you object to them getting more reductions while ours are increased?

      • Bill

        @OMGawd,

        Okay now OMGawd, I’m really tired of arguing with you people – but do you not understand that like 45% of the people in this Country pay no taxes at all? You can google the stats – the top 10% already pay a disproportionate share of taxes. The top 50% are already paying more than their fair share. Time for you slackers to pony up. Everyone who earns money should pay some taxes, no wage earner should get a free ride on the backs of the other hard working taxpayers.

  • Driverside

    Bill, taxes on the wealthy have been going down for over thirty years, I’m sure you know the statistics. When are these tax cuts going to start creating jobs? I’d guess your business was wiped out more by lack of customers with money to spend, than over-taxation.

    I don’t see why anyone with a secure job, making a decent living or better, has a problem with paying a fair amount of taxes.

    I realize that small businesses are the real job creators in America and government should be doing all they can to help the good ones to succeed. But giving tax breaks to the very rich and to giant multinational corporations seems completely wrong.

  • Bill

    @ Driverside

    Just curious – what percentage of your gross income do you think is fair to pay in taxes? That’s a simple question that even a liberal flake should be able to answer.

  • http://www.govtogether.com/user1339 GovTogether

    These types of decisions should be left up to the American people, not ONE American person. We The People should decide what We The People will pay. Everyone should have a say in this issue, as well as other issues.

    We at GovTogether are trying to shift the power back to The People. We want to build a system that will allow all of us to have a vote on individual issues, and not just a vote for politicians who we then HOPE will make the right choices.

    If you like the idea and want to learn more, visit our site and maybe cast a vote while you’re there. The more votes we get, the greater of a chance we have at making this new system into a reality.

    GovTogether.com

  • Bill

    @ Driverside

    My business was almost wiped out by the policies of liberal democrats and their cohorts on Wall Street. The problems we are experiencing right now are a direct result of pressure from liberal democrats to give mortgages to people that could not afford them. Thank you Jimmy Carter, Bill Clinton & Barney Frank!

    • Driverside

      @Bill, Sorry bill, but it was predatory lenders and fraudulent mortgage companies that tried to give mortgages to people who couldn’t afford them, not liberals.

      Having equity in your own home is one of the best investments you can make, and good for the economy. While Democrats were trying to increase home ownership Wall street and the mortgage companies were creating the ‘housing bubble’, basically handing out ‘sub-prime’ variable interest rate mortgages to anybody and everybody, knowing they could simply foreclose and re-possess those homes, and steal whatever equity the buyers had acquired.

      You know which party is in bed with Wall street.

      • Bill

        @Driverside, Please allow me to educate you. The mortgage companies that wrote the bad loans did not care about foreclosure. They were the loan originators. They received a commission on the loan and collected the interest for a short time. They were not worried about foreclosure because they knew that the buyer would make an effort and pay his initial mortgage payments and they had the house as collateral. In a lot of cases, before the ink was dry on the papers, the mortgage company would sell the loan to Fannie Mae- the underwriter for the majority of the mortgages in this Country. The loan “originators” did not care about the ability of the buyer to repay the loan because they were going to pass the bad paper on to Fannie Mae who would buy the mortgage having no idea that the mortgage payer had no job or income. The company that got stuck with the bad paper on sub prime mortgages was most certainly not the evil company that originated the loan. So we had a system in place where the evil banks could churn out commissions on loans and then pass the bad paper to another bank. Our financial regulators had no clue what was going on and the bankers that got bailed out by Obama/Bush TARP money basically scammed everybody. It gets even worse when we talk about how Fannie Mae packaged these loans into securities and the banks found a way to make even more commissions passing the bad paper around again.

        • Driverside

          @Bill, Thanks for the ‘education’, and agreeing with me; “… bankers that got bailed out by Obama/Bush TARP money basically scammed everybody.”

          Allow me to educate you: TARP was passed by congress in the fall of 2008, before President Obama took office.

          Please stop blaming Democrats for the disastrous economic policies of republicans.

  • Bill

    You go after Michele Bachman who raised a houseful of adopted kids and no post about Weiner or Edwards? Why the crickets from the do-gooder, all loving compassionate liberals? Seriously, did you see Edward’s mug shot today? Priceless! Mr. “Two Americas” with his cheesy smile and breck girl hair. And Weiner….I have said here many times before the scandal that Weiner was the most annoying, obnoxious Democrat that walked the earth. What a dumbass! Thinks he’s so smart taking on the Republicans and hamming it up for the cameras yet he is committing political suicide at the same time.

    • http://www.facebook.com/sammysings Sammy

      @Bill, The so-called “liberal” press has spent almost four weeks now on the Wiener story and has own party leaders have called for an investigation AND for him to resign. What’s your beef?

      • Bill

        @Sammy, My beef is that Weiner has been lauded here on this blog. Weinergate is the biggest scandal in politics at this time and there is no mention here. Why the crickets? What’s the lame ass liberal excuse? It’s Weiner’s personal life? It was cyber – not real life? And the breck girl was a VP candidate and now he’s indicted. This blog parses every word that comes out of Palin’s mouth and every Republican sex scandal becomes an instant hit piece yet when it’s a Democrat – it’s crickets. I’m pretty sure this blog is published by women – so why are these two cretins getting a pass here? It’s only cheating if it’s a Republican right?

        • http://www.facebook.com/sammysings Sammy

          @Bill, From what I have seen of this site, its intent is not to comment on every political issue of the day. Its intent is to serve as a watchdog for conservative hypocrisy and malfeasance. That is not to say or imply there isn’t liberal hypocrisy or malfeasance. The women who run this site probably do find Wiener’s actions objectionable and/or disappointing (but I wouldn’t begin to speak for them). But they may like him as a congressman.

          At least the issues presented on this site can be debated, unlike the thousands of blog pages wasted on birth certificate BS.

  • Bill

    @ sammy How can they “like him as a congressman” if they do not like him as a person? You need to lay off the kool aide. Consider a twelve step program.

  • Fara

    Actually the middle class people are paying their tax properly, the people who are millionaires are the culprit who escape from paying tax.

  • http://www.prlog.org/11289974-phone-number-lookup-verizon-phone-number-reverse-lookup-to-get-information-you-need-quickly.html phone number lookup

    I believe just because you work harder, you shouldn’t be punished for it.

  • http://www.prlog.org/11289974-phone-number-lookup-verizon-phone-number-reverse-lookup-to-get-information-you-need-quickly.html phone number lookup

    I believe just because you work harder, you shouldn’t be punished for it.