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?
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Established: 21 November 2004
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4 comments
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].
Yep, here it is, in PDF. You will note it wasn’t what they were looking for, only what they found.
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].
It has never been the rates, it’s the deductions that screw up the system.