Excerpt:
In Friday night’s debate John McCain said the tax rate in the United States on corporations is too high.
McCain must have forgotten that most corporations aren’t pay any taxes at all.
The Government Accountability Office is set to release a report that says most U.S. corporations pay no federal income taxes.And most foreign companies that do business in the United States aren’t paying corporate taxes.
The study says about two-thirds of American corporations paid zero income taxes to Uncle Sam between 1998 and 2005.
An even higher percentage of foreign corporations avoided federal corporate taxes.
Related Posts:
Corporations Don’t Pay Income Taxes………… oh, in terms of leopards and spots, I almost forgot.
A Look at Corporate Tax Rates on Tax Day
McCain and Romney on Taxes
McCain the Elitist
The Need for Progressive Taxation
Lakoff Frames Progressive Taxation
