Over Two-Thirds Of Corporations Pay No Federal Corporate Income Tax - HuffPo

[Bill USA]

http://www.democraticunderground.com/101453616


also: a GAO report in 2008 concluded the same: article: http://blog.aflcio.org/2008/08/12/we-pay-taxes-most-corporations-dont/


GAO report: http://www.gao.gov/new.items/d08957.pdf

[sad sally]

1. Nor do most pay their fare share of state taxes, so guess where these shortfalls are made up?

More bad news on this tax rip-off - think of all the infrastructure dollars we, as citizens of a state, fork over to woo corporations to come to our states after they've funded our state politicians election/re-election campaigns. Yet, we reduce budgets to schools, environmental agencies, health care programs for the poor, disabled and elderly, and even fire and police agencies so we can keep these giant tax suckers.

State lawmakers routinely enact tax breaks to lure companies from other states and promote economic development, while corporations use legal tax shelters to boost their profits, so the loosing state is left holding the bill for roads, water/sewer systems on property, and unemployed workers.

In many communities these albatrosses sit there - with grand empty buildings, landscaped grounds, huge empty parking lots, all locked up - to remind people every day what their tax dollars bought. Sadly, this scheme hasn't stopped - vital public services are cut while corporations get richer and richer.
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Some companies paid little or no state tax

The 265 companies included in the report earned a combined $1.33 trillion in domestic profits over the past three years, but managed to pay only an average 3 percent in state taxes across the country. Researchers say these companies reduced their state taxes by some $42.7 billion during that period.


http://www.washingtonpost.com/business/capitalbusiness/some-local-firms-avoid-state-taxes/2011/12/07/gIQARkzbnO_story.html