Do Corporations Pay Taxes? The Corporate Tax Gap: Why Profitable Giants Pay So Little

Two-thirds of corporations do not pay their federal income taxes, according to a major study in 2005! The shenanigans continue. "According to a report from Citizens for Tax Justice, 37 of the biggest American corporations did not pay one red cent in taxes in 2010." In 2011, corporate profits were the largest they have been in 50 years. Yet, the taxes they paid were just about the lowest percentage America has ever seen!

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 Many wealthy capitalist complain that the corporate tax rate is "too high" at 35% but with all the tax loopholes, corporations ended up paying a 12% tax rate in 2011, which is one of the lowest in the world. "The United States has the second-lowest corporate tax rate in the developed world, and raises far less than other nations in corporate revenue."

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Other Related blog(s): Nouveau Economics, Lyceum Recordz

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