Honestly, why the hell is everyone worried about talk of increasing corporate tax rates?
Turns out most of them don’t pay any anyways.
Two-thirds of U.S. corporations paid no federal income taxes between 1998 and 2005, according to a new report from Congress.
The study by the Government Accountability Office, expected to be released Tuesday, said about 68 percent of foreign companies doing business in the U.S. avoided corporate taxes over the same period.
Collectively, the companies reported trillions of dollars in sales, according to GAO’s estimate.
Seems to me you wouldn’t need to raise corporate taxes to fill our government’s coffers. Just eliminate the damn loopholes that let the companies that benefit most from America’s prosperity get away without giving anything at all back to the country that allows them to be so successful.
I’m just sayin’…