Remember the campaign promise not to raise taxes on small business?????
The New York Times reports that President Obama is reviving an old proposal to lower the corporate tax rate from 35 percent to 28 percent (and 25 percent for manufacturers). Obama’s push to lower the corporate tax rate to 28 percent comes less than a year after he raised the top individual income tax rate, paid by many small businesses, to 39.6 percent.
In a speech delivered Tuesday afternoon, Obama did not explain why he thinks it’s a sound economic idea to raise the top marginal tax rate on small businesses but lower it for corporations.
New Normal? Hope Not
READ MORE: http://www.aim.org/guest-column/new-normal-hope-not/
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