Tuesday, July 28, 2009

Study says...

most corporations pay no U.S. income taxes | U.S. | Reuters

Yes, the article is a year old but the facts remain the same. Why on earth are we debating the cost of universal healthcare when a condition like this exists? Anyone? Anyone?

2 comments:

  1. The right loves to throw out the high corporate tax rate as "proof" that U.S. businesses are overtaxed and at a competitive disadvantage. Funny how they never add that when the accountants are through with all of the loopholes, corporations by and large don't pay any taxes at all.

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  2. Whenever this subject comes up, I like to tell of the corporation I used to work for and how, by converting to a sub chapter S corporation, we no longer paid $6 million in taxes. Our CFO was quite proud of that, and rightfully so, he simply used the tax code to do it. And who do you think paid the $6 million now that we weren't?

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