September 16, 2011

I Support the American Jobs Act of 2011

I repeat, I support the American Jobs Act of 2011 and implore our lawmakers to fast-track the bill and get it passed immediately.

Lest you remain confused about whose site you have stumbled upon, I will clarify; I support the American Jobs Act of 2011, as filed by Texas Representative Louie Gohmert of Tyler, Texas.  Representative Gohmert was patient and waited almost a week for someone, anyone, to file Blowie's proposals as a bill.

No dimocrat stepped up, so Gohmert has filed his own legislation that shares a title with the plan presented by Blowie last week.  BWAHAHAHAHA!

Gohmert's plan is simple and would certainly spur some economic growth and create jobs immediately. 
A BILL To amend the Internal Revenue Code of 1986 to repeal the corporate income tax.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ''American Jobs Act of 2011''.
SEC. 2. REPEAL OF CORPORATE INCOME TAX.
(a) IN GENERAL.—Subsection (b) of section 11 of the Internal Revenue Code of 1986 is amended to read as follows:
(b) "AMOUNT OF TAX.—The amount of the tax imposed by subsection (a) shall be zero percent of taxable income.''.
(b) REPEAL OF ALTERNATIVE MINIMUM TAX FOR CORPORATIONS.—Subparagraph (B) of section 55(b)(1) of such Code is amended to read as follows:
(B) CORPORATIONS.—In the case of a corporation, the tentative minimum tax for the taxable year is zero.''.
(c) CONFORMING AMENDMENTS.— (1) Paragraphs (1) and (2) of section 1445(e)
of such Code are each amended by striking ''35 percent'' and inserting ''0 percent''.
(2) Subparagraph (A) of section 7518(g)(6) of such Code is amended by striking ''34 percent'' and inserting ''0 percent''.
(3) Paragraph (2) of section 53511(f) of title 46, United States Code, is mended by striking ''34 percent'' and inserting ''0 percent''.
(d) EFFECTIVE DATE.—The amendments made by section shall apply to taxable years beginning after this December 31, 2011, except that the amendments made by subsection (c) shall take effect on such date.
While the article points out that there is nothing prohibiting two bills from sharing the same title, there is no way that the dims or Blowie would allow that.  I can't wait to see the spin on this one.

3 comments:

CenTexTim said...

I applaud Gohmert's ingenuity, but I wish his bill did something other than repeal corporate income tax. obama et al. will spin this as an example of the republicans helping corporations and millionaires while shafting the middle class.

Paul said...

I've been screaming to abolish the corporate income tax for years. It makes absolutely no sense. After, customers end up paying those taxes anyway because corporations factor taxes into their overhead costs. Abolish the corporate tax and more corporations will magically appear, thereby expanding the employment base, surprise fucking surprise, increases government revenue. But Washington, DC and at least 50% of America are too fucking stupid to understand this concept and are all poisoned by class warfare.

Paul said...

Think I may be a little hungover. My writing today is terrible!