The Republicans want to remove regulations on corporations, and lower their tax rates.
Under our present system, prior to the above, G.E. made $14.2 billion in income in 2010 but paid no U.S. corporate income tax. Moreover, it claimed a tax benefit of $3.2 billion.
Given the claimed 35% corporate tax rate, that means a loss to the U.S.A. of over 8 BILLION DOLLARS…just in ONE year, from just ONE corporation.
How much are the Republicans going to save us by defunding NPR?
“NPR receives about $90 million in federal funding annually, but the Congressional Budget Office calculated that the net savings from defunding the network would be zero.”
(Read more at the Washington Examiner: http://washingtonexaminer.com/politics/congress/2011/03/house-votes-cut-npr-funding#ixzz1IDbjx6wS)
Let’s ignore the wisdom of the Congressional Budget Office, and pretend defunding NPR would save us 90 million dollars a year.
That’s about 1% of what G.E. alone would have supplied if they’d paid the 35% tax rate that the Republicans keep telling us is too high.
Republicans should be ashamed of their representatives.