LA Times lies that average effective corporate tax rate is 27%

[SunSeeker]

Last edited Wed May 29, 2013, 09:31 PM - Edit history (1)

In a particularly creepy article by Jim Puzzanghera, entitled "Quiz: Do U.S. corporations pay too little in taxes?" Puzzanghera invites readers to take a "quiz" that could have been written be a Koch brother.

http://www.latimes.com/business/money/la-fi-mo-quiz-corporate-tax-quiz-20130528,0,3937955.story

It is basically designed to tell you that U.S. corporations are the most taxed in the developed world (that is the 1st question!). Then, to prove it, they lie. Question #4 asks "What is the average effective tax rate for U.S. corporations?" The choices are: 17%, 22%, 27%, or 32%. As any Google search would tell you ALL of those choices are wrong. It is 13.4% at best. The U. S. corporate tax burden is smaller than average for developed countries. http://www.cbpp.org/cms/?fa=view&id=784. But the LA Times says you'd be wrong if you picked anything other than 27%.

Looks like Rupert Murdoch already bought the paper...

[HiPointDem]

1. kr. democracy doesn't work if people don't get true information.

[muriel_volestrangler]

2. 12.4% in 2011:

But there is another source of federal revenues that receives less attention: corporate income taxes. According to the Wall Street Journal’s recent study of Congressional Budget Office numbers, corporations are paying an effective rate of 12.1%, the lowest in at least 40 years.

http://business.time.com/2012/02/06/the-corporate-tax-rate-is-at-its-lowest-in-decades-is-big-business-paying-its-fair-share/

[SunSeeker]

3. Thanks. Of course, the LA Times offers no links for the 27% figure. nt