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The Water Cooler
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Bring back the 91% tax rate
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<blockquote data-quote="BBurt" data-source="post: 1994514" data-attributes="member: 26045"><p>We have a corporate tax rate of 35% but their effective tax rate with all the deductions and loop hole is only 12% according to time mag But there is another source of federal revenues that receives less attention: corporate income taxes. According to the Wall Street Journal’s recent study of Congressional Budget Office numbers, corporations are paying an effective rate of 12.1%, the lowest in at least 40 years. So why are some of the biggest and most powerful entities in our society getting away with paying so little? The story is complicated, but the biggest factor in the recent collapse in corporate tax receipts appears to be a set of tax breaks built into recent stimulus efforts.</p><p></p><p>Read more: <a href="http://business.time.com/2012/02/06/the-corporate-tax-rate-is-at-its-lowest-in-decades-is-big-business-paying-its-fair-share/#ixzz2Cn9wyF5Y" target="_blank">http://business.time.com/2012/02/06/the-corporate-tax-rate-is-at-its-lowest-in-decades-is-big-business-paying-its-fair-share/#ixzz2Cn9wyF5Y</a></p></blockquote><p></p>
[QUOTE="BBurt, post: 1994514, member: 26045"] We have a corporate tax rate of 35% but their effective tax rate with all the deductions and loop hole is only 12% according to time mag But there is another source of federal revenues that receives less attention: corporate income taxes. According to the Wall Street Journal’s recent study of Congressional Budget Office numbers, corporations are paying an effective rate of 12.1%, the lowest in at least 40 years. So why are some of the biggest and most powerful entities in our society getting away with paying so little? The story is complicated, but the biggest factor in the recent collapse in corporate tax receipts appears to be a set of tax breaks built into recent stimulus efforts. Read more: [url]http://business.time.com/2012/02/06/the-corporate-tax-rate-is-at-its-lowest-in-decades-is-big-business-paying-its-fair-share/#ixzz2Cn9wyF5Y[/url] [/QUOTE]
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Bring back the 91% tax rate
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