It usually means an effective tax hike.  Austin is famous for this with their property tax rates.  Some politician pushes for a tax rate cut, then miraculously, the values of homes go up the maximum amount the next cycle.  It’s amazing how that works!

Well, Rep. Charlie “I didn’t pay taxes on my property” Rangel wants to lower the corporate tax rate from 35% to 28%.  OMG!!  Has he been converted?  Well, no.  He plans on removing lots of deductions, including R&D and domestic production.  So companies will be penalized for researching, say, green technologies and for producing IN AMERICA! 

What a load of hopenchange.