Despite all their griping about the U.S.'s highest-in-the-developed-world 35% federal corporate income tax rate, big profitable U.S. companies paid just 12.6% of their reported worldwide profits in federal income taxes in 2010, a study released today by Congress' Government Accountability Office shows. That low-sounding number is likely to fuel the debate over whether U.S. companies, after using all the tax breaks and ploys at their disposable, are really overtaxed. One point of comparison: last...
Despite all their griping about the U.S.'s highest-in-the-developed-world 35% federal corporate income tax rate, big profitable U.S. companies paid just 12.6% of their reported worldwide profits in federal income taxes in 2010, a study released today by Congress' Government Accountability Office shows. That low-sounding number is likely to fuel the debate over whether U.S. companies, after using all the tax breaks and ploys at their disposable, are really overtaxed. One point of comparison: last...
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