Archive → February, 2012
Obama proposes 28-percent corporate tax rate
Treasury Secretary Timothy Geithner presented President Barack Obama's proposal to slash the corporate tax rate from 35 to 28 percent. Photo AP.
President Barack Obama put forward a plan on Wednesday which would slash the country’s
corporate tax rate from 35 percent to a more competitive 28 percent.
The current tax rate for companies is one of the highest in the
world, although the tax code is riddled with a multitude of loopholes
and tax breaks, which means that a large number of U.S. businesses
actually pay a much lower proportion of their profits to the Internal
Revenue Service (IRS).
Ron Paul challenges Romney’s win in Maine caucuses
Republican presidential candidate and Texas Congressman Ron Paul told CBS's Face the Nation
on Sunday that his second-place finish in the Maine caucuses could be due to the
cancellation of one of the state's contests. Photo: CBS.
Republican presidential candidate Mitt Romney was declared the winner of the Maine caucuses on Saturday. The former Massachusetts governor won the contest with 39 percent of the votes. Texas Congressman Ron Paul came in second place with 36 percent of the ballots. Former Pennsylvania senator Rick Santorum garnered the support of 18 percent of voters, while former House speaker Newt Gingrich was the favorite of only six percent of caucus goers.
Obama tells NBC that he deserves a second term
President Barack Obama told NBC on Sunday that he deserved a second term. Photo NBC.
President Barack Obama told NBC on Sunday that he deserved a second term in office because he had managed to turn things round since entering the White House, although he admitted that more needed to be done.