Most corporation s pay no income taxes - cits and link for report

[JohnWxy]

http://blog.aflcio.org/2008/08/12/we-pay-taxes-most-corporations-dont/

The Government Accountability Office (GAO) reported that two-thirds of both American and foreign companies doing business here end up avoiding all income tax obligations to the federal government, despite corporate sales totaling $2.5 trillion.

According to the GAO, each year from 1998 to 2005, an average of 68 percent of the foreign companies operating in the United States paid zero federal income taxes. During the same period, 66 percent of U.S. domestic corporations paid no federal income taxes to the government.


The GAO looked at an 8 yerar period 1998-2005:
see GAO Report here.

About 57 percent of FCDCs (Foriegn controlled corporations) and 42 percent of USCCs (US controlled corporations) reported no tax liability in multiple years—2 or more years—and about 34 percent of FCDCs and 24 percent of USCCs reported no tax liability for at least half the study period—4 or more years. A correspondingly higher percentage of USCCs reported a tax liability in all 8 years, 45 percent for USCCs and 28 percent for FCDCs.

[underpants]

1. But but we have the highest RATES in the world!!!

Oh, yeah ...that leaves at the rest of the equations huh?

[JohnWxy]

2. More good sites on concentration of wealth.

http://www.marshallbrain.com/cw-articles.htm

http://concentrationofwealth.blogspot.com/

[metapunditedgy]

3. Just ask Meg Whitman, CEO of EBay... she'll give you anecdotal evidence

that corporations pay 35% tax. (Says McCain this morning on MTP.)

[Poseidan]

4. that's funny

I thought corporations were legally considered people? Shouldn't they be imprisoned for tax-evasion?