With the US Federal corporate tax rate at 35% you …
With the US Federal corporate tax rate at 35% you will be interested to know that more than 60% of US companies paid NO taxes during the period from 1996-2000. According to The Motley Fool,
“In 2003, tax revenues from corporations made up just 7.4% of total federal receipts — the second-lowest rate since 1934.”
This scandalous report from the GAO went largely unnoticed when it was released last week.
Most companies paid no taxes during the boom
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