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Bachmann Thinks Everyone Should Pay Taxes (Except Corporations)

Bachmann Thinks Everyone Should Pay Taxes (Except Corporations)

Should everyone being paying taxes, regardless of how little money they have?  That’s Congresswoman Michele Bachmann’s economic plan, as she declares that if she becomes president, she will eliminate the Earned Income Tax Credit that keeps so many low income Americans afloat financially.

Via Think Progress, Bachmann stated on a Fox interview, “[T]his is where I deviate from Reagan, he instituted the Earned Income Tax Credit, it’s known as the EITC, and that effectively took many many Americans out of even having to pay any tax liability at all. I would do away with the EITC and if a person has $3 in income they would be subject to something. Obviously, no one has $3 in income. But they would have to pay something through that system.”

Yes, even three dollars of income deserves to have some portion of it taken away, according to Bachmann.  Yet this is the same woman who once declared that the American tax code is the same sort of “death and taking away” as the extermination of the Jews during the Holocaust.  She’s even said she was open to the idea of eliminating corporate taxes all together.

So, just so we are clear, if you earn just three dollars a year, you should pay taxes.  If you are a company with billions in annual profits, you should not.

 

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125 comments

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6:19PM PST on Nov 20, 2011

Don W. I realise Kennedy got shot, perhaps for the act of monetary reform.

But government operations should not be held captive to the for-profit Federal Reserve where money is borrowed and we pay interest. At minimum, take the burden of running government off of the taxpayers and banking system.

This is not a flood of currency scheme, it is a managed way to expand our nations money supply that is not debt. It is NOT a "nationalisation", and if reasonable, can stabilize the economy, I believe.

Clearly the status quo is not working any longer. For a graphic representation there is a very simple compounding math problem which accurately represents the growth in public and private US debt.

Say one borrows $1 in 1913 and incures a 6% interest yearly for 100 years. The graph is compounding, where the interest builds to about $10 in 1945 then begins a turn up. Around 1965 the interest (usury) reaches $35 then grows at an increasing rate. By about 2005 the interest reaches $270, and almost doubles yearly thereafter. Its somethilg like $1300 in 2010.

The moral here is that usury on the US money supply is unsustainable, mathmatically. We simply cannot borrow our way out of debt.

5:39PM PST on Nov 20, 2011

Re Toby, the last President to print US treasury notes being Kennedy, soon after that he got shot! would you resolve the debt crises knowing you are playing with the Worlds biggest criminal syndicate? it remains an enigma, the Worlds taxpayers are constantly in a state of financial crises, as the Rothschilds and Rockefellows and that lot have so many trillions of dollars, do you think it feasable we could ask them for advise on how we can handle money and do what they do?

5:14PM PST on Nov 20, 2011

Change the status of all individuals to Corporational status, become democratic with a level playing field.

11:29AM PST on Nov 20, 2011

Eric L. Yes the price of foreign made products would go up, but not to a level that it stops demand signicantly if tax is kept under 10% (declining to 0, based on current account).

There is no doubt that it's a tax, raising the prices of goods coming from low cost foreign countries, but reasonable given the advantages given to the international corporations over the Main Street and productive American people. This is a "leveling the playing field" tax that, if kept at low conservative level, will contribute to remaining solvent with countries that subsidize their peoples health and other living needs, or simply exploit their populations.

When facted with a growing debt, even after austerity cutting and some tax on the wealthy, we are still faced with a significant deficit. And who in their right mind thinks interest rates will not rise, where the private and public debt burden becomes more crushing.

We should also take the operations for government out of the debt based banks. Government should not borrow for their operations and our taxes then pay interest on that money. Banks are "banksters" because they are making money out of thin air.

A US Treasury Dollar, spent into existance, equal by law to a Federal Reserve Note would take the burden of government out of the banking industry and put monetary needs of the people before the profits of a few.

7:21AM PST on Nov 20, 2011

@Toby S.
Tariffs are not the solution, that would just drive up the cost of products for the citizens of this country. Lowering Corporate taxes while removing all deductions would be much more helpful. The government has forced companies to seak profits outside America.
@KARLOLINA G.
"If you are BLACK, GAY, POOR, or a FEMALE, why on earth would you vote for a REPUBLICAN? Well I am just a FEMALE. What could I possibly know?"

You can say the same thing about Democrats.

Why would any intelligent person vote for a Corporate puppet regardless of which side of the 2 party system they are on, they are one in the same. We need a real leader that can not be bought out. So far the only one I'm aware of that can not be bought out is Ron Paul.

1:34AM PST on Nov 20, 2011

She's no better than Herman Cain or Mitt Romney. Me-chelle is pretty selfish.

10:29AM PST on Nov 13, 2011

If you are BLACK, GAY, POOR, or a FEMALE, why on earth would you vote for a REPUBLICAN? Well I am just a FEMALE. What could I possibly know?

3:33PM PST on Nov 8, 2011

Harriet, you point out a very important part of the situation that we are in with "free trade". It has come at a high price of jobs (now and in the future). Corporations will do exactly as you suggest, they will buy low and sell high, even if it means destruction of the US middle class job. Their goal is not to make jobs, it is to make "wealth" for the owners. It's a very powerful motivation that, if not checked, with be a form of USA "self destruction" as more and more become poor and a few get wealthy beyond imagination.

While import tarriffs were destructive at 60% in the depression, a variable import tarriff, based upon the current balance with each country of say 5-10%, would have "field leveling" effect, help to make America solvent, and encourage growth of "JOBS" in America.

Sure corporate America will oppose tarriff's, since it shifts economic motivation, but BANKRUPTING AMERICAN CITIZENS, moving middle class into poverty, is not the answer.

10:16AM PST on Nov 7, 2011

John T. you are a genius, really, a genius. I bet you thought the old "Scrooge" in a "Christmas Carol" was the hero, really a genius. Corporations pay taxes..at least are scheduled to pay taxes....on their NET PROFITs...there would be no economic boom, corporations will not employ more high paid Americans, but will continue to employ low paid workers in other countries bring their product to the states with out tariffs, and sell it at a much higher price in the US than else where, corporations will continue to pay CEOs and other highly placed staff enormously outrageous compensation, while people like you continue to tout that they should not pay taxes. Corporations are the royals of France in the 1800s, the Princes of Russia in the 1900s, now let's just read a bit of history and see what happened ...There is no excuse for corporations not to pay taxes, all entities that utilize the resources of the USA should be subject to the same responsibilities for those resources

8:10AM PST on Nov 7, 2011

I disagree WilliamB. There are many who call themselves "Christians" but don't live according to his teachings. Many of them worship the dollar and have very little understanding of what Jesus's teachings are really about. Unfortunately "the church" has became a place to hide evil and it is the members responsibility to root it out, but I find even pastors are worshiping the dollar and are unwilling or unable to disclose wrongdoing or hold these politicians accountable. Don't blame Jesus for those who do wrong, he died trying to stop evil. Jews (the church elders) and government officials killed him for his stand against the corruption.

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Colleen H. Colleen H. is an Online Campaigner with Care2 and a recent transplant to San Francisco from the East... more
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