It's the never~seen~a~taxcut~for~the~rich~they~didn't~like Republicans who get it.
As Republicans demonize government and promise that the all knowing Market will solve all problems, it turns out most corporations aren't federal taxes. Not their "fair share"~~we're talking about any federal income taxes whatsoever.
GOP leaders promise all these economic "trickle down" (once rightly dubbed Voodoo Economics) benefits for the masses from endless handouts to companies that are busy outsourcing jobs and, it turns out, in many cases don't even pay taxes. Talk about "pie in the sky"!
The solution from the plutocrats will no doubt be yet more "deregulation". We need to get off the "backs" of corporations, you see. So they can shirk their responsibilities and mooch with complete impunity.This isn't really about economics, but rather systemic corruption and incestuous collusion between political and economic elites (who often overlap). It is the domain of Transparency International, not the Treasury.
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.
Update: Made a few tweaks.