As always, we are going to hear a lot about how Barack Obama is going to "raise your taxes," if elected President. And, it is true that Obama wants to raise taxes on the wealthiest Americans. It is untrue that he is planning to raise them for the vast majority of Americans who are in the middle and working classes. In essence, he wants to restore some fairness and some progressiveness to the U.S. tax system.
The real story in our tax system is that 2/3 of all U.S. corporations (1/3 of all large corporations) and 68% of foreign corporations pay ZERO DOLLARS in federal taxes each year. That despite the fact that these corporations earn trillions of dollars annually. That is right, these corporations throw money at elections so they can own politicians and shape public policy toward their interests over the majority of American citizens' interests AND they receive all kinds of tax-payer funded welfare from the government, yet they pay virtually nothing in taxes back into the system. This is the real scandal in our tax system. This baldly illustrates the inequality in the system and underscores who benefits most from the government.
For the full story, check it out here and here...
As ND-D Senator Byron Dorgan said, "It's time for the big corporations to pay their fair share."