Wednesday, February 1, 2012

@SenatorBurr - Why are US Corporations paying so little in income taxes?

One of the most intellectually dishonest cases being made by Republican politicians, like our dolt of a US Senator Richard Bur,  is the need to cut the income taxes paid by US Corporations.

Huh?

Corporations bear a significantly less income tax burden today than in prior decades.

And as the chart below shows,  while Income Taxes paid by individuals are on the rise,  US Corporations are paying only about 2/3rds what they paid 5 to 7 years ago.   Yet,  corporate profits are hitting all-time highs.

Click on image for larger view

What the hell is going on here? Corporate profits are hitting high after high. The US Stock Market is closing in on record highs. Corporate executive pay is off the charts. Yet, our Corporations are paying significantly less taxes? And we need to give them income tax breaks in the face of $1 Trillion annual deficits?

This is a pure T crock of Republican Crap. Common sense says that US Corporations are paying significantly less income tax because they've moved all their profits to off-shore tax dodges.  We need to make our tax system fair.  What we need to do is shut down all the off-shore income tax breaks. But, cut taxes on corporations?

Richard Burr - take a hike.

North Carolina deserves better than Republican Senator Richard Burr.

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