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Thursday, November 17, 2011

9 Percent Sounds like a Good Deal for Uncle Sam

So General Electric made profits of 14 billion dollars, filled out a tax return of 57,000 pages and paid ZERO taxes? GREAT! Well, now we can't really complain can we? After all they only followed the tax law.

Now if my friend Herman Cain had his way, GE would have filled out a single page tax return and paid 9 percent of 14 billion dollars. Lesse, that comes to about 1.26 billion in taxes. But on the bright side, GE could fire all the overpriced tax lawyers and accountants they paid to create the 57,000 page tax return.

Sounds like a win/win situation to me. Go Herman Cain!

UPDATE - Not to mention the elimination of the IRS as a gubment agency.

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