15 Frank Guinta in Conway 2011 05 18 corporate tax loopholes, audits, balanced budget amendment

The Congressman says we should get rid of the loopholes and tax everyone the same (at a lower rate).

He goes on to say that the House budget had directed Ways and Means to eliminate corporate tax loopholes. (6:00) "That has bipartisan support in Washington" Audience: "So do it." Guinta: "Well, we did! We passed it. [Audience incredulous] The Senate can take the provision and pass it themselves! We've already passed it in the House."

This is Guintaism at its best. He knows that the House budget makes a meaningless policy statement about eliminating corporate loopholes and that the Republican-controlled Ways and Means Committee will never actually eliminate a loophole. And he knows that it his assertion that the Senate "just needs to pass it" is disingenuous -- that he is cynically misleading his audience because he can get away with it.

He goes on to repeat his position on auditing everything but also offers the new Tea Party proposal for a two year budget process.

Here is a comparison of US and foreign tax rates paid by selected American corporations: http://www.payupnow.org/rankings/index_industry.htm

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• corporate
• tax