Bachmann's Mad Tax Proposal

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Ben Cohen
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Official photo of Congresswoman Michele Bachma...

It doesn't get crazier than this. Raw Story reports:

Republican presidential candidate Michele Bachmann said Sunday that she was “open” to implementing Sarah Palin’s suggestion that all corporate income taxes be abolished.

“I propose to eliminate all federal corporate income tax,” Palin had said in a speech to the tea party in Iowa Saturday. “This is how we create millions of high-paying jobs… To eliminate any loss of federal revenues from this tax cut, we eliminate corporate welfare and all the loopholes, and we eliminate all the bailouts.”

Let's do the math on this - Bachmann wants to lower the corporate tax code to 0%, and to avoid any loss of federal revenues, eliminate corporate welfare and 'all the loopholes'. If the corporate tax code is 0%, then corporations will be paying nothing to the federal government. So closing the loopholes will result in....Good Lord. I understand the need for good comedy, but this woman is actually running for President of the United States - a truly terrifying prospect.

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