Many large corporations – Microsoft being one recent example (in Ireland) – have done this little trick, thereby reaping the profits on their products sold here, while dodging most of the taxes by incorporating elsewhere.

This is a disgraceful practice, and the fact that we all suffer for these types of actions make it imperative that this loophole be closed ASAP.

Bill Gates – Time Man of the Year (What?).

My own answer to these questions is that aside from some of the more egregious earmarks (e.g., the Bridges to Nowhere, etc.), there are not many places where spending can be cut substantially without causing undue harm. The caveat is that I do not know enough about military spending to know if there is any slack there.

However, I think the government should raise taxes in three ways: reexamine the tax credits which will go to oil companies; increase the tax on gasoline; and raise marginal tax rates on income, dividends, and capital gains. The latter two would affect me personally, and I think those increases are equitable. (My father once told me “may you always pay a lot of taxes.”)

Herman Talmadge said “don’t tax you, don’t tax me, tax that fellow behind the tree.” I am eager to hear how those who complain about the fiscal irresponsibility of the Bush administration – as I do – would propose to solve the problem.

Losing might also remind a few Republicans how they got to Washington in the first place.