You know all the noise from the right about Obama’s plan to make US income tax more progressive? (Which, sanity forces me to note, amounts to “return them to Clinton era levels”.)
In the midst of all the arguments about who should be paying what share of the costs, why is there no big loud discussion about corporate tax rates?
Most U.S. and foreign corporations doing business in the United States avoid paying any federal income taxes, despite trillions of dollars worth of sales, a government study released on Tuesday said.
The Government Accountability Office said 72 percent of all foreign corporations and about 57 percent of U.S. companies doing business in the United States paid no federal income taxes for at least one year between 1998 and 2005.
I could not make this stuff up.
A whole nation that runs on Hollywood accounting.
