Tuesday, April 10, 2012

Corporate tax rate is how high?

American corporations want every American to know that they have the highest tax rate in the world at 39.2 percent.

Yet, that isn't what American corporations actually pay in taxes. The real number: 12.1 percent of profits are taxed.

How could that be?

Well, check out this report from last fall.

In fact, tax dodging is so effective that 26 major corporations have negative tax bills.

Yes, that's right, taxpayers pay them billions to make even more money. As as added "bonus," they ship American jobs overseas or south of the border.

It's no wonder, then, that federal tax revenues have plunged to levels not seen since the 1940s.

Oh, and by the way, we have a huge federal deficit.

Can anyone connect the dots?

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