kiwiman127
Comfortably Moderate
- Oct 19, 2010
- 11,802
- 3,429
If there ever was a "Corporate-Owned' President,Barack Obama is it. What favors has he promised GE & NBC for being loyal Boot-Lickers? Stay tuned.
You guys act like this is something new. Well it isn't.
Study Tallies Corporations Not Paying Income Tax
By LYNNLEY BROWNING
Published: August 12, 2008
Correction Appended
Two out of every three United States corporations paid no federal income taxes from 1998 through 2005, according to a report released Tuesday by the Government Accountability Office, the investigative arm of Congress.
The study, which is likely to add to a growing debate among politicians and policy experts over the contribution of businesses to Treasury coffers, did not identify the corporations or analyze why they had paid no taxes. It also did not say whether they had been operating properly within the tax code or illegally evading it.
The study covers 1.3 million corporations of all sizes, most of them small, with a collective $2.5 trillion in sales. It includes foreign corporations that do business in the United States
Study Tallies Corporations Not Paying Income Tax - NYTimes.com
So while we're blaming Obama, let's blame GWB and Billy Clinton too!
And you know what? Let's lower corporate taxes! Of course it's hard to lower taxes when there are no taxes to lower with all the loopholes corporations use. No other country comes close to all the tax loopholes this country has. The US "as advertised" corporate tax rate is rarely paid at the set rate or even remotely close.