Anything Goes, Right?: If we are really "Broke", this doesn't help.....

[monza]

I tend to agree with that, however, the US has the 2nd highest corp tax rate in the world...which explains why so many jobs are going offshore, which means taxes that will never be collected not only from corps but from individuals.

2nd, until the govt stops spending the money like you describe...

 

[bensonga]

.......however, the US has the 2nd highest corp tax rate in the world....

And if GE etc are typical cases, those corporations with good tax lawyers may find the biggest tax loopholes right here in the good old USA.

GE certainly didn't pay corporate taxes of 35% on that $5bn of income attributed to their US operations. What was it they received.....a $3.2bn refund or credit? With tax credits in the billions.....I'd say they should be hiring in the US, not moving jobs overseas....if federal corporate income taxes is really the driving issue in these decisions.

Gary

 

[monza]

The problem is not that companies like GE take advantage of the system. Taxes are just another cost to a corporation. Any company is responsible to its shareholders to minimize costs and maximize profits.

The problem is the bloated tax system itself.

I won't get into further details of the cozy corruption.