Cons seem to only want to talk about "Obamaphones", welfare, food stamps, etc.
They don't seem anxious about corporate welfare, at all.
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Cons seem to only want to talk about "Obamaphones", welfare, food stamps, etc.
They don't seem anxious about corporate welfare, at all.
A new government report shows just how easy corporate America has it.
Every year from 2006 to 2012, some two-thirds of U.S. corporations did not pay federal income tax, according to a Government Accountability Office study. In 2012 alone, 42.5 percent of businesses that the GAO defines as large did not pay federal taxes, including 19.5 percent of big corporations that posted a profit.
Profitable U.S. corporations paid, on average, an effective federal income tax rate of 14 percent over the slightly shorter period from 2008 to 2012.
Executives at these companies claim the top statutory corporate tax rate in the U.S. of 35 percent is so high relative to other countries, that they have little choice but to move overseas in order to remain competitive.
But the GAO study provides new support for the arguments of fair taxation advocates, who have long noted that effective corporate tax rates are much lower than the statutory rates.
http://www.huffingtonpost.com/entry/gao-study-profitable-corporations-no-federal-taxes_us_570e6c62e4b0ffa5937dbadb
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