{"id":31010,"date":"2012-02-22T18:30:08","date_gmt":"2012-02-22T18:30:08","guid":{"rendered":"http:\/\/127.0.0.1\/site\/2017\/2\/1985\/wsj_obama_administration_proposes_tax_revamp\/"},"modified":"2012-02-22T18:30:08","modified_gmt":"2012-02-22T18:30:08","slug":"wsj_obama_administration_proposes_tax_revamp","status":"publish","type":"post","link":"https:\/\/kendallharmon.net\/?p=31010","title":{"rendered":"(WSJ) Obama administration Proposes Tax Revamp"},"content":{"rendered":"<p>The Obama administration will propose lowering the top income-tax rate for corporations to 28% from 35% but would raise overall tax revenue by eliminating dozens of popular deductions in an effort to restructure the corporate tax code.<\/p>\n<p>The proposal, which will be announced Wednesday, would lower the &#8220;effective&#8221; tax rate on manufacturers to &#8220;no more than 25%,&#8221; according to a senior administration official, down from the current average rate of about 32%. It raises taxes on oil and gas companies that would lose many large deductions and subsidies.<\/p>\n<p>The plan would require U.S. companies operating overseas to pay\u201d\u201dfor the first time\u201d\u201da minimum tax rate on their foreign earnings.<\/p>\n<p><a href=\"http:\/\/online.wsj.com\/article\/SB10001424052970204131004577237771704513042.html\">Read it all<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Obama administration will propose lowering the top income-tax rate for corporations to 28% from 35% but would raise overall tax revenue by eliminating dozens of popular deductions in an effort to restructure the corporate tax code. The proposal, which<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/kendallharmon.net\/?p=31010\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":794,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39,40,582,589,149,144,114,616,151,667,587,596,584],"tags":[],"class_list":["post-31010","post","type-post","status-publish","format-standard","hentry","category-culture-watch","category-economics-politics","category-consumerconsumer-spending","category-corporationscorporate-life","category-economy","category-foreign-relations","category-law-legal-issues","category-office-of-the-president","category-politics-in-general","category-president-barack-obama","category-taxes","category-the-credit-freeze-crisis-of-fall-2008the-recession-of-2007","category-the-u-s-government"],"_links":{"self":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/31010","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/users\/794"}],"replies":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=31010"}],"version-history":[{"count":0,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/31010\/revisions"}],"wp:attachment":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=31010"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=31010"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=31010"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}