Most U.S. Corporations Pay no Federal Income Taxes
August 12th, 2008Via: AP:
Two-thirds of U.S. corporations paid no federal income taxes between 1998 and 2005, according to a new report from Congress.
The study by the Government Accountability Office, expected to be released Tuesday, said about 68 percent of foreign companies doing business in the U.S. avoided corporate taxes over the same period.
Collectively, the companies reported trillions of dollars in sales, according to GAO’s estimate.
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And yet, the corporate pricks are always moaning and bitching about being subjected to “double taxation”; corporate taxes and capital gains taxes. They pay little of the latter and apparently nothing of the former.