Ayn Rand has her issues, but she did come up with a few deft phrases, and one of them is the beginning of Francisco d'Anconia's rant in Atlas Shrugged: that in the new progressive age, the aristocracy of wealth would be replaced by "the aristocracy of pull," or political connection.
If there's another way to interpret the fact that eternal corporate pariah Wal-Mart pays %33.6 percent of its profit in taxes, while the Obama Adminstration's bankroll, GE, pays 3.6%, I'd like to hear it.
It's not that I have a problem with GE paying so little. I'm a GE stockholder, and I likes my dividends. But the idea that one corporation should pay more taxes than another by an order of magnitude --whether due to political favor or tax farming -- ought to be offensive to conservatives and progressives alike.
Or perhaps someone would like to explain how a single 10% corporate tax rate with no loopholes or deductions would not be more just?
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