BSAM, your logic only works if you can trust those that lead these businesses to do the right thing. To date, it has been our leaders that have failed us.
1. Bank CEO's took in huge personal rewards while destroying our economic stability. They took risk that resulted in short term personal profit and now we must pay for it.
2. Corporations across this land are initiating layoffs as a first course of action instead of addressing their compensation models. These CEO's are proving that they place personal net worth and personal compensation above that of fellow employees and ultimately the general US economy. Exeutive compensation has escalated to a ratio of 433:1 from a ratio of 40:1 in the 1970's. Do you really think these CEO's are looking at resolving national economic issues?
3. UBS has a list of 52,000 offshore accounts that the US believes are used to avoid paying taxes. The initial list of 250 people is believed to have cost the taxpayers upwards of $300 Million every year. Similarly, the top 400 top earners in the US last year paid less, by percentage, that middle class america. These represent your leaders of corporate america. should we give their companies additional tax breaks so that they can claim better performance and put the difference in their own pockets?
Tax breaks to corporations should come with caveats. Those caveats must include job creations and not job losses. Those that don't want to play this game can pay the tax man instead so the tax man can pay those that go unemployed. I hate taxes like everybody else but somebody has to pay the unemployed and without a guarantee, simply cutting business taxes will not have teh intended results you think they will have. Greed has showed us that.
