By Manila Ryce
Published Wednesday, August 13th, 2008, 5:57 am
Filed under: Society/Culture: Law/Order, US Politics
All the legal rights of a human being (sometimes more) and none of the responsibility. Gee, I sure wish I was a corporation. Then other people could bail me out of financial trouble and fight wars when I wanted something.
Two-thirds of U.S. corporations paid no federal income taxes between 1998 and 2005, according to a new report from Congress.
The study by the Government Accountability Office, expected to be released Tuesday, said about 68 percent of foreign companies doing business in the U.S. avoided corporate taxes over the same period.
Collectively, the companies reported trillions of dollars in sales, according to GAO’s estimate.
h/t BuelahMan
3 Responses to “2/3 of US Companies Don’t Pay Taxes”
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I am truly not surprised. Companies gain all the same rights as people, so that the actual PEOPLE running the companies do not have to be liable (although I do agree with that in the case of a legitimate company) most of these companies that evade paying taxes are able to do so, and then the blame falls on the ‘company entity’ not the people that made it happen.
It is a double edged sword that is hard to know where to draw the line, protect the legitimate companies or make it so that you can nail the illegitimate companies?Either way, I bet that ‘avoided tax money’ could help out a lot of people with housing costs, etc.
08/13/08 at 6:42 am
I suppose buying all those state and federal legislators was a good investment.
Disgraceful. All hail the open market.
08/13/08 at 7:14 am
Santa Clara vs. Union Pacific is where corporations got the right to be treated as people; and what is strange (if you read the legal mumbo-jumbo) is that it is a by-product of the case, and is inserted as sort of assumed knowledge.
There is no actual legislative or constitutional muscle behind it.
But what is stranger: it has never been challenged. The incredible weakness in our corporate rulers ability to be immortal and avoid jail (and taxes) could go away in a tiny puff of smoke.
Regards,
Tengrain
08/13/08 at 8:58 pm