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In reply to the discussion: We Cannot Allow This to Continue ... [View all]Cerridwen
(13,262 posts)10. "Math is a science" that relies on complete and factual information.
Here is one report about 288 companies and their effective tax rate over a 5 year period. (far more at the link provided below)
In summary:
Overview:
The table on this page summarizes what the 288 companies paid (or didnt pay) in effective U.S. income
tax rates on their pretax U.S. profits.
The good news is that 62 companies (about a fifth of the companies in this report), paid effective five-
year tax rates of more than 30 percent. Their average effective tax rate was 33.6 percent.
The bad news is that even more companies, 67, paid effective five-year tax rates between zero and 10
percent. Their average effective tax rate was 1.5 percent.
Even worse news is that 26 companies paid less than zero percent over the five-year period. Their effective tax rate averaged 5.1 percent.
The table on this page summarizes what the 288 companies paid (or didnt pay) in effective U.S. income
tax rates on their pretax U.S. profits.
The good news is that 62 companies (about a fifth of the companies in this report), paid effective five-
year tax rates of more than 30 percent. Their average effective tax rate was 33.6 percent.
The bad news is that even more companies, 67, paid effective five-year tax rates between zero and 10
percent. Their average effective tax rate was 1.5 percent.
Even worse news is that 26 companies paid less than zero percent over the five-year period. Their effective tax rate averaged 5.1 percent.
From this link: http://www.ctj.org/corporatetaxdodgers/sorrystateofcorptaxes.pdf
From this site: http://www.ctj.org/corporatetaxdodgers/sorrystateofcorptaxes.php
The image in the OP is the bumper sticker version for those who can't be bothered to look around for the complete picture.
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And as I am learning in another thread, Wall Street has convinced even some Dems
randys1
Jun 2014
#28
No, you're confusing private companies with public utilities in that other thread.
MADem
Jun 2014
#30
I've always maintained that US Government contracts should only be let to tax-paying corporations.
Richardo
Jun 2014
#3
When a corporation sells a product in the USA the corporation should be taxed...nt
pbmus
Jun 2014
#15
There are over 18 Million businesses in the US. Do that math. Yes if FUCKING MATTERS.
Lochloosa
Jun 2014
#26
The point is that the tax rate on some of those profits should be higher than 35%.
JDPriestly
Jun 2014
#31
If we repair the principle behind it, then you start pulling tax revenue from a LOT more than just
AtheistCrusader
Jun 2014
#32
.. and not to pile on (but i will)...GAO: U.S. corporations pay average effective tax rate of 12.6%
yodermon
Jun 2014
#34
Once again the root of this problem is not the Tax Code per se, it's the fact that these
Dustlawyer
Jun 2014
#22