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It shows that when an economist and a Republican meet, the Republican can't win, because the Republicans can't back their plans with facts. Time for the tax code to become a flat tax and all the loop holes and subsides to go away. Let us try that for 50 years as the Voodoo Economics of Republicans has failed time after time after time.
What Krugman fails to point out that while mega Corps pay less, smaller corporations have some the highest rates, when ou factor in not only taxes but Regulatory capture, I work for a small local bank and they have had to stop offering free checking and other services to cover the cost of regulations and increased taxes.

Also it is a proven fact that when tax rates increase tax revenue goes down, also Krugman is about as accurate on the economy as my cat is, the man didn't even predict the dotcom or the housing bubble.
+Anthony Evangelista What you're missing is if the bank down the street still offered free checking and other services, your bank would not have eliminated them. Considering that the regulations for major banks are different than for minor banks, do you think that is fair. Do you think that because Bank of America gambled with the money that was deposited in good faith, that the rest of us have to pay that money back?

As I stated before flat tax and no loopholes or subsidies for anyone. No bail outs, no sliding money to prop them up unless it is in the form of a loan. That means with terms of repayment.
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