The Good, The Bad and the Very Very Luctiferously Ugly!
The Good! *Sen. Bernie Sanders (I-VT) Senator Bernie Sanders introduced legislation today to cut off corporate tax breaks and loopholes. The Corporate Tax Fairness Act gets rid of the "deferral" loophole that allows corporations to avoid paying taxes in the US on any profits they make overseas. The legislation also closes several other loopholes that allowed corporations to pay an average 12% tax rate in 2011 - the lowest in 40 years. We don't have a spending problem in America - we have a revenue problem with billionaire and billion-dollar corporations not paying their fair share in taxes. Kudos to Senator Bernie Sanders for taking on this issue.