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Guns Guns Guns
Guest
The answer appears to be no for companies big and small.
After all, U.S. public companies pay well below the official 35% tax rate.
In short, the tax cut rhetoric, while effective politics, is lousy economics.
Despite $858 billion in December 2010 tax cuts, companies still complain that they pay too much in tax.
General Electric (GE) has become famous for paying no taxes on its $5.1 billion in 2010 U.S. profits while keeping a big staff of lawyers on hand to make sure it pays as few of them as possible.
GE is not alone, and the prevailing estimate for the actual U.S. corporate tax rate is 25%, costing the U.S. about $100 billion in lost revenue.
But corporations have absolutely no reason to complain about taxes.
After all, they're earning record profits, and companies are achieving that record profitability by squeezing workers.
To get more work out of the same number of workers while paying them less, it helps to have people out of work and the easy ability to hire part-time labor and outsource to countries that pay much lower wages.
http://www.forbes.com/sites/petercohan/2011/05/03/do-tax-cuts-create-jobs/
After all, U.S. public companies pay well below the official 35% tax rate.
In short, the tax cut rhetoric, while effective politics, is lousy economics.
Despite $858 billion in December 2010 tax cuts, companies still complain that they pay too much in tax.
General Electric (GE) has become famous for paying no taxes on its $5.1 billion in 2010 U.S. profits while keeping a big staff of lawyers on hand to make sure it pays as few of them as possible.
GE is not alone, and the prevailing estimate for the actual U.S. corporate tax rate is 25%, costing the U.S. about $100 billion in lost revenue.
But corporations have absolutely no reason to complain about taxes.
After all, they're earning record profits, and companies are achieving that record profitability by squeezing workers.
To get more work out of the same number of workers while paying them less, it helps to have people out of work and the easy ability to hire part-time labor and outsource to countries that pay much lower wages.
http://www.forbes.com/sites/petercohan/2011/05/03/do-tax-cuts-create-jobs/
