We keep hearing that if corporations have to pay more taxes, the economy will suffer, because they won't hire more workers. Well, if you hadn't noticed, for the last five years they've hardly been on a hiring spree.
At a time when more elected officials are turning their attention to income inequality in this country, increasing corporate tax breaks is no way to address it. Workers and their families are struggling to make ends meet. Communities are broken.
Here are the top 10 examples of corporate welfare and welfare for the rich. There are actually thousands of tax breaks and subsidies for the rich and corporations provided by federal, state and local governments, but these 10 will give a taste.
Senator Max Baucus has decreed a minimum 50 years of secrecy for negotiations over revamping the federal tax code. It's not the information itself that must remain under lock and key, but which senator is supporting what massive corporate giveaway -- that's what has to remain secret.
To the extent that this favorable tax treatment facilitates economic expansion, the overall economy is mis-structured. Moving more assets to the wealthy should certainly not be a prerequisite for job development and economic progress.