From
npr.org -Just how broken is the corporate tax system? Consider the tax rate paid by two of America's biggest companies — Wal-Mart and General Electric. Wal-Mart paid 34 cents in taxes for every dollar of profit it made in the past three years. General Electric paid just 3.6 cents on the dollar. Welcome to the mysterious world of the corporate income tax, says tax expert Len Burman at Syracuse University. "There are big companies that consider their tax departments to be profit centers," he says. That's right; instead of concentrating on making light bulbs, power plants or whatnot, companies use the tax system to boost their profits. More
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NPR: Why Does GE Pay 3.6% Tax Rate, and Wal-Mart Pay 33.6%?
From npr.org -Just how broken is the corporate tax system? Consider the tax rate paid by two of America's biggest companies — Wal-Mart and General Electric. Wal-Mart paid 34 cents in taxes for every dollar of profit it made in the past three years. General Electric paid just 3.6 cents on the dollar. Welcome to the mysterious world of the corporate income tax, says tax expert Len Burman at Syracuse University. "There are big companies that consider their tax departments to be profit centers," he says. That's right; instead of concentrating on making light bulbs, power plants or whatnot, companies use the tax system to boost their profits. More here
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2 comments:
Try reading America's Great Depression by Rothbard for an answer. GE has been intimately connected to the socialist programs of the US government since before FDR. And they are still in there getting special treatment, ie the new CFL that are more hazardous to the environment than incandescent bulbs and more problematic for humans since the normal CFL does not provide a full spectrum light.
We have not had a capitalist society in the US for more than 100 yrs. We have a mercantilist system, akin to fascism, wherein the government is in bed with certain corporations.
And CORPORATIONS DO NOT PAY TAXES. The clients of corporations pay the taxes as higher prices. The lie that corporations pay any tax is one used to keep the average person in the dark.
CORPORATIONS DO PAY TAXES. To say that corporations don't pay taxes because the taxes they pay come from the markup in their products is the equivalent of saying people don't pay taxes either. Because...the employers of people pay the people's taxes in the form of higher wages than what the people take home home...therefore, the people don't pay taxes, employers do? But then aren't employers corporations? So corporations pay the people's taxes and the purchasers of corporations products pay taxes? Is Al Gore the author of the previous statement or just another average person REALLY in the dark?
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