Seldom have I seen such faulty conclusions based on such incomplete information.
Reuters says that 42% of companies paid no taxes in at least two out of seven years, despite trillions of dollars in revenues.
So what?
Corporate income taxes are based on profits, not sales. In years when companies make no profits but still have sales, should they pay a corporate income tax?
Profits vary over the years. Maybe they mak
de big profits in the other five years and paid big taxes. Who knows?
The article, and the politicians quoted, really tell us very little. Both senators are class-warrior types who love to misinform. But here their conclusions are clearly not warranted.
There are many ways our tax laws are wrong, and maybe should come down harder on companies in certain ways. But this article does nothing to help. It inflames, but does not inform.
