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Most companies in US avoid federal income taxes

post #1 of 3
8/12/08 at 12:03pm
Thread Starter 
WASHINGTON - Two-thirds of U.S. corporations paid no federal income taxes between 1998 and 2005, according to a new report from Congress.

http://news.yahoo.com/s/ap/20080812/...DVLHlnlT8DW7oF

Quote:
"It's shameful that so many corporations make big profits and pay nothing to support our country," said Sen. Byron Dorgan, D-N.D., who asked for the GAO study with Sen. Carl Levin, D-Mich.
And they need more tax breaks and government subsidies! Talk about people on welfare being suck offs! Major corporations beat them hands down. Maybe if the really, really fat cats paid some taxes we could have universal health care.
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post #2 of 3
8/12/08 at 2:26pm

Re: Most companies in US avoid federal income taxes

Even if they do technically pay them, they are not the ones paying them. They just raise their prices and pass the expense of paying taxes on to the consumer.
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post #3 of 3
8/12/08 at 3:21pm
Thread Starter 

Re: Most companies in US avoid federal income taxes

Too true, Tammy. Too true. It just makes me sick how the poor and the middle class have to support and pull the weight for the wealthiest.
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