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The United States corporate tax code is inefficient and has become a diminishing source of revenue.
Ending the breaks, subsidies and shelters in the corporate tax code could provide enough money to lower the rate several percentage points and still increase revenue.
No one is certain how much creative accounting costs the federal government in lost revenue, but most estimates say it easily exceeds $50 billion a year.
Targeted tax preferences, created to intentionally benefit specific companies or industries, cost an estimated $100 billion more a year.
http://www.nytimes.com/2011/05/03/business/economy/03rates.html?_r=1
Ending the breaks, subsidies and shelters in the corporate tax code could provide enough money to lower the rate several percentage points and still increase revenue.
No one is certain how much creative accounting costs the federal government in lost revenue, but most estimates say it easily exceeds $50 billion a year.
Targeted tax preferences, created to intentionally benefit specific companies or industries, cost an estimated $100 billion more a year.
http://www.nytimes.com/2011/05/03/business/economy/03rates.html?_r=1