The farce that US has high corporate tax rates
invite response
2012 Feb 28, 1:04am 898 views 2 comments
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bob2356
2012 Feb 28, 3:01am
Corporations paid something like 25% of the taxes in the 50's and 5% today. Anyone that says corporate taxes are too high is a liar. Get rid of all the loopholes that allow corporations like GE to avoid taxes THEN lower the rate. Average effective corporate tax rate is in the low 20% range, same as almost the entire first world.
http://www.ctj.org/taxjusticedigest/archive/2012/02/press_release_general_electric.php
GE has paid an average tax rate of just 2.3 percent over the past decade .
While the high corporate tax rates does hurt small businesses, Big corporations live life King size.