David Brooks has a brilliant piece on the debt ceiling debate:
http://www.nytimes.com/2011/07/05/opinion/05brooks.html Here is an interesting look at US debt limit history:
It makes one wonder what the point of a debt ceiling is when it can be changed so frequently.
The WSJ makes a great point regarding the ridiculous US tax structure:
“The average effective corporate rate varies by industry but is far less than the 35% rate, and the injustice is that some pay much less than others if they can afford lobbyists to write loopholes or they invest in politically correct purposes. Anyone not in thrall of class-war symbolism understands that the U.S. corporate tax code provides the worst of both worlds: It makes U.S. companies less competitive even as it is raises much less revenue than advertised.”
Big Business is more of a hindrance than a helpful player in the corporate tax reform debate