Fleming's article in the Times Picayune of 4/13 titled, "Give Americans A Break and Simplify The Tax Code" is not about simplification as one finds out when reading the article. It is about the same old republican conservative ideology of "trickle down economics" of: (1) eliminating the estate tax that benefit the wealthy; (2) Allow the deduction of state and local sales taxes from federal taxable income; (3) Reduce the Corporate tax rate: And (4) The above will reinvigorate the economy.
Fleming's article can best be described as a ruse to go back to the same failed republican policies using falsehoods to cover up the attempt by using the word "simplify." To simplify is easy if one has the courage. You can not have a tax system that is more simple than a reasonable tax rate bracket with no exemptions for any one. That would be easy to understand and the tax forms could be filled out by the average taxpayer with no help.
The estate tax has been studied for many years and the studies shows eliminating the tax would benefit the wealthy and that the current tax code actually protect the mom and pop farms and property with high enough exemptions.
Reducing the corporate income tax again as Fleming suggests represents the failed policies to move the economy, create jobs or balance the federal budget. The corporate tax rate has been reduced from the 90% range to the present range of less than 40%. Fleming knows that companies on average pay an effective income tax rate between 12-13%. Mitt Romney verified that with the release of his tax filings that was made public. Fleming also knows that there are many corporations who pay no income tax because of loop holes, tax breaks and tax credits.
When the people elected Barrack Obama, their vote ended the carnage inflicted on America and its citizens brought about by the failed policies of Fleming's party. And that really says it all.
This commentary written by Joe Lorio
