The US has the highest corporate tax rate of any industrialized nation. So, so much for loop holes … unless you are GE and best buds with the Administration. Then you don’t have to pay any taxes at all.
The corporate tax RATE in the USA is nearly 40% (federal and state combined), but even when foreign, state and local taxes were taken into account, the companies total effective taxes were only 16.9% of their worldwide income, thanks to deductions, foreign shelters, credits and exemptions. This is much lower than most other countries in the developed world.
Bidnessmen are Greedy-Greedy-Greedy and BAAAD. Gubment officials and other Looters and Moochers who take their earnings and kill jobs are Compassionate and Fair and Good Good Good!
bbadenov almost 11 years ago
The US has the highest corporate tax rate of any industrialized nation. So, so much for loop holes … unless you are GE and best buds with the Administration. Then you don’t have to pay any taxes at all.
Red Phantom almost 11 years ago
Only if it’s big business…small ones are still taxed as they can’t afford the loopholes
Ollyvah almost 11 years ago
You have that exactly right!
stewartava almost 11 years ago
This whole gag is uninformed and quite backwards. If the ‘businessman’ is corporate, it’s on the house-our house.
ri9115 almost 11 years ago
Business passes the cost of taxes on to the consumer, so in reality they do not pay taxes.
mike75035 almost 11 years ago
@ Clark Kent – Unions are big business regardless of definition.
Cuester almost 11 years ago
Ha! Actually, a business lunch is tax deductible.
Cuester almost 11 years ago
The corporate tax RATE in the USA is nearly 40% (federal and state combined), but even when foreign, state and local taxes were taken into account, the companies total effective taxes were only 16.9% of their worldwide income, thanks to deductions, foreign shelters, credits and exemptions. This is much lower than most other countries in the developed world.
lizilu almost 11 years ago