No April Fools’ joke, U.S. now world’s highest corporate taxer

[Marcus Bryant]

http://blogs.reuters.com/james-pethokoukis/2011/03/31/no-april-fools-joke-u-s-now-world%E2%80%99s-highest-corporate-taxer/

[EVAY]

Since the news yesterday that General Electric just paid Zero dollars in corporate taxes for the last year on $14 billion profit, the case can be made that the tax rate is meaningless since it accompanied by so many loopholes.


Link:

http://www.nytimes.com/2011/03/25/business/economy/25tax.html

[boutons_deux]

show that UCA corps pay the highest taxes, vs have the highest NOMINAL
rates

As intended by the VRWC tax policies, Human-Americans pay more and more of total tax take, while Corporate-Americans pay less.

http://www.taxpolicycenter.org/briefing-book/background/numbers/images/Numbers_Figure-2_What-are-federal-govt-sources-of-revenue_1.gif

see page X, and in general how complex international tax comparison are:

http://www.cbo.gov/ftpdocs/69xx/doc6902/11-28-CorporateTax.pdf

If the VRWC message is "taxes are too high", you know it's a lie. In fact, anything coming out of the VRWC is nothing but lies.

By non-stop cutting of taxes and "starving the beast", the VRWC plan is to weaken govt regulation and enforcement so the VRWC is free pollute and put employees in danger while externalizing the real costs to the taxpayers.

[v2freak]

Since the news yesterday that General Electric just paid Zero dollars in corporate taxes for the last year on $14 billion profit, the case can be made that the tax rate is meaningless since it accompanied by so many loopholes.


Link:

http://www.nytimes.com/2011/03/25/business/economy/25tax.html

I read that article too. It seems to suggest perhaps the problem still lies with the high tax code in the US which has given GE incentives to keep most of its profits abroad.

[EVAY]

I read that article too. It seems to suggest perhaps the problem still lies with the high tax code in the US which has given GE incentives to keep most of its profits abroad.

According to the Chairman of GE, the low taxes were a function of the GMAC losses...part of the financial meltdown issue.

[DMX7]

GE is laughing its ass off at this thread.

Imagination Breakthrough!