Corporate Taxes

I’d like to offer a correction, the number of companies that pay income taxes is ZERO because companies don’t pay taxes, their customers do it for them in the form of higher prices.

I do agree with many quoted in this article that the problem is the tax code itself, which among the many big ticket problems we have require the kind of overhaul that politicians are historically incapable of delivering… the effective kind. Recall that the tax system we now have is a product of the Tax Reform Act of 1986, who’s primary goal was inserting fairness, efficiency and simplicity into the Federal tax code.

About two-thirds of U.S. companies and foreign firms doing business in this country paid no federal income taxes from 1998 to 2005, according to a study by the Government Accountability Office. Sen. Byron Dorgan, D-N.D., called the report “a shocking indictment of the current tax system.”

[From Most U.S. firms paid no taxes over 7-year span]

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  1. Pingback Corporate Income Taxes - Gross Stupidity at the NY Times | Venture Chronicles

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