Reply #18: IRS Code 482 is not inforced on multi-nationals and tax credits via non-economic deals is not

[papau]

chased since the RW courts now try so hard to find "economic reason" to almost anything.

Corporate tax rates on the books of 35%/33% are now effective tax collectors of only 10% or less of the income of large American corporations.

Medium size corps and small corps write off owner's personal expenses - and top managements personal expenditures - with no reaction by the IRS.

Corporations need to be abolished for tax purposes and only look through taxation - ala sub-S rules - should be allowed.