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March 30, 2011
Jon Stewart: Hey, It's Kind of Odd That NBC Is Embargoing The Story About Parent-Corporation GE Dodging All Federal Taxes, Huh?Which then caused the Washington Post to note it. Did NBC’s silence have anything to do with the fact that one of its parent companies is General Electric? Stewart calls NBC out near the end of this segment. Until then, it's a lot of liberal defense of teachers' unions and griping that corporations don't pay enough in taxes. Although, on that point: I don't like tax regimes which impose a high nominal rate and then permit corporations to buy legislative votes for special deductions. This type of regime is fundamentally corrupt and corrupting -- and feudal, relying, as it does, on special relationships, favors, and access. A clean regime is transparent and uniform. If the rate is 10%, you pay 10%, and you don't have loopholes, credits, and special breaks out the wazoo. That's a lot better than a system where supposedly the rate is 35% but two-thirds of corporations purchase votes for a 0% rate. Same is more for any tax code -- the more byzantine and complex it is, the more it rewards both the tax-savvy and the corrupt, and the more it punishes the tax-oblivious and the honest. Any system in which a savvy gamer can come in and pay 0% while less-tax-savvy people (who are spending less time thinking about tax consequences and more time on productive endeavors) pay 35% is wrong. Let the tax-savvy have tiny little ways to game things in their favor, a few tenths of a percentage here and there, but it's crazy that someone who's just trying to do his job without hiring a team of tax lawyers winds up being punished for it.
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