Also from Time.com, John McCain's response to this question:
Kind of begs the question: what does it matter what the corporate tax rate is if U.S. corporations never pay it?TAXES: Should Bush's tax cuts for families making more than $250,000 be eliminated?
Wants to keep Bush's tax cuts. Would kill the alternative minimmum tax and lower the corporate tax rate from 35% to 25%.
3 comments:
That's not what the GAO report says. If you had actually read it rather than just parrot an AP story, you'd quickly see that of the largest companies, i.e. those with more than $250 million in assets, 75 percent of them did pay taxes. There are about 14,000 companies that fit this description -- oh, and they have 90 percent of all corporate assets. Read another way I guess you could whine, as Dorgan does, that 25 percent of the largest companies are *not* paying taxes. But, in the vast majority of those cases they simply weren't PROFITABLE that year. I don't see the scandal.
And the 2008 "Completely missing the point" award goes to... oh, wait, we don't know. Using anonymity to avoid conviction in your statements and disguise your attempts at hostile discourse is completely worthless.
Interesting report, and thank you for the clarification, anonymous. I've never read this report myself so I can't claim to bring anything new to the topic here, but the publication of this report and the concomitant media/public reaction really says something about the public's relationship with big corporations. Whatever the exact circumstances of corporate taxes, and despite the often unjustified fear and loathing of successful companies, many Americans legitimated feel that corporations have way too much power in our present society. Workers experience job insecurity and stagnating wages while they see their CEOs taking home record profits. Union membership is down to around 7%. It is true that workers in our country right now are being squeezed, and the meltdown of the housing sector due to deregulation, mismanagement, and downright corporate greed, which jeopardizes most family's biggest asset, is only making people feel even more that the system is stacked against them. The GAO report strikes the same nerve.
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