CBSNews.com launches "United States of Influence" series

United States of Influence handshake lobbyist capitol congress economy GENERIC / CBS/iStockphoto
CBSNews.com's Political Hotsheet this week is launching a new series, "United States of Influence," which employs CBS News polling and in-depth stories to examine Americans' frustration with Washington.
A CBS News poll conducted for the series found that seven in ten feel people like they have little say in what their government does; eight in ten believe most members of Congress are primarily interested in serving special interests, not the people they ostensibly represent.
The series will shine a light on the aspect of Washington that so infuriates Americans: The influence of moneyed interests in the political process. It kicks off Tuesday with a story on the new CBS News poll, which includes Americans' views on whether the federal government serves the interests of the rich.
Alienated nation: Americans complain of government disconnect
On Wednesday, CBSNews.com Senior Political Reporter Brian Montopoli's in-depth profile will examine the paradox of New York Democratic Sen. Charles Schumer, who has cultivated a reputation as a friend of the middle class while aligning himself strongly with Wall Street. And on Thursday, CBSNews.com Political Reporter Stephanie Condon will take a hard look at why members of Congress are so much wealthier than the average American.
The series will continue in regular installments throughout the year, with the focus remaining squarely on the aspects of Washington that have alienated many Americans. Stories can be found on a special page on CBSNews.com, http://www.cbsnews.com/unitedstatesofinfluence.
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CBS, will you find out where Obama's $820,000 in foreign income came from last year so we can see who is influencing our POTUS.
Oh and CBS, don't just accept that the money is for 'book royalties" it's not. Actually do just a little research and number crunching on our own. Start with the Obama 2009 tax return and then compare to his 2010 return. Both are on the WH website.
Obama is a global econonomy socialist. He's proven that over and over and over again.
But then the common democrat on the street is screaming about "sending jobs overseas".
You can't have it both ways. You can't be a global ecocomy socialist because it sounds good to "save the world" and then scream about giving jobs to starving people.
Somethings got to give. This is unhealthy and unsustainable. With tax levels for the wealthiest at historic lows (for most of the last 30 years)and tax loopholes available only to those wealthy, no wonder this trend has taken hold. Corporations also pay a far smaller share of the tax burden than they did 40 years ago even though the "stated" corporate tax rate in America is one of the worlds highest. (We actually have one of the lowest "effective" corporate tax rates when the "actual" taxes paid by corporations are tallied.) We can thank our elected Congress which creates these obscene tax loopholes for our wealthiest to dodge taxes. Wealthy individuals and corporations are now sitting on HUGE stockpiles of cash and that money has effectively been 'taken out of circulation'.
And I haven't heard a single democrat apologize for it.
I agree with you that what corporations actually pay in taxes is not the same percentage that they are supposed to pay. Currently, the combined federal and state statutory corporate tax rate is at a very high 39% compared to the average corporate tax rate of other developed nations, which is around 26%. (http://******/mOpkXL) This number is what scares away foreign investment.
A big reason a lot of American companies never end up paying the full statutory amount of taxes is because of tax breaks and deductions in our tax code. Just look at GE who paid almost nothing in taxes in 2010. (http://******/m3nyeb) However, companies in the U.S. pay an average effective tax rate of around 27%. (http://scr.bi/ldGkg4) This rate is a lot more competitive with other markets, as opposed to the listed statutory rate of 39%, and would help to draw foreign companies to U.S. shores.
Lowering the statutory corporate tax rate, by cutting out the loopholes to a level more in line with the effective rate will increase the amount of businesses that want to invest their resources in America.