Obama Administration Proposes Cut in Corporate Tax Rate

I have not read the plan in its entirety, but what I am heat so far, makes sense to me. But of course, I believe in taking care of the 'least of these'not just talking about it. I hope the President will get to implement this plan.

Saying that "the current tax code was written for a different economy in a different era. It needs to be reformed and modernized," Treasury Secretary Timothy Geithner just outlined a proposal from the Obama administration to cut corporate taxes while also eliminating business loopholes.

The proposal, which is posted online here, would reduce the top corporate tax rate from its current 35 percent to 28 percent — and offer incentives that could reduce some businesses' rate to 25 percent if they engage in "advanced manufacturing" in the U.S.

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