Bachmann Open to Elimination of Corporate Income Taxes

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Republican presidential candidate Michele Bachmann offered muted support Sunday for Sarah Palin’s recent call to eliminate all corporate taxes, noting that she’s “open” to the idea of cutting corporate tax rates to zero percent – but not calling for it outright.

The Minnesota Congresswoman, appearing on CBS’ “Face the Nation” Sunday, said “we could go that route” on corporate tax rates, but she noted that “we’d have to have a fundamental restructuring of the tax code” first if taxes paid by companies were to be eliminated altogether.

“What we would have to do then is re-jigger other elements to define revenue and what revenues would be needed to the economy,” Bachmann told CBS’ Bob Schieffer. “We certainly could get down to a zero percent corporate tax rate.”

Palin, speaking at a Tea Party rally in Indianola, Iowa on Saturday, blasted President Obama’s relationship with “corporate cronies,” and called for the elimination of federal corporate income taxes as a job creation measure.

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