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A Puzzlement

It has been widely reported that two-thirds of corporations have paid no corporation income taxes since 1998.  This is based on a GAO study requested by Senate Dorgan.

Given that, what was the point of cutting the coporate tax rate in 2001?  What difference could any rate change make if two-third of corporations were paying no taxes?

4 comments

1 hipparchia { 08.14.08 at 2:08 am }

yikes.

is there a link to that study? i’d really like to see that [even if it’s going to make my eyeballs bleed].

2 Bryan { 08.14.08 at 11:10 am }

Yep, here it is, in PDF. You will note it wasn’t what they were looking for, only what they found.

3 hipparchia { 08.14.08 at 11:24 pm }

holy crap!

i just thought i was disgruntled about our tax system last year. now i’m steaming. but that had some information in it i’d been looking for, so thanks for the link [after my blood pressure goes back down, anyway, sometime next week probably].

4 Bryan { 08.14.08 at 11:58 pm }

It has never been the rates, it’s the deductions that screw up the system.