Tuesday, May 5, 2009

Forget about it

I've been reading the headline stories about President Obama's plan to overhaul the tax codes that allow corporations to hide their profits in overseas accounts. Well, they aren't really hidden, they just aren't available to the IRS. And that's a bad thing. Most people don't realize that close to 70% of U.S. corporations don't pay any tax at all. Another bad thing. What we need here is a major revision of the tax codes so that all pay a fair amount. For every dollar that is successfully hidden from the IRS by a skilled accountant is a dollar that we all have to pay. But, wait…what am I thinking? American politicians have been promising to clean up the tax codes for a gazillion years now. It's part of their usual stump speech. They wouldn't be elected if they didn't include it in the speech! The fact that they never follow through is simply forgotten. So forget I even mentioned it…

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