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Enjoying record profits and taxpayer-funded bailouts as the economy slowly recovers from a financial crisis, nearly two-thirds of US corporations don't pay any income taxes, instead opting to abuse tax loopholes and offshore tax havens. According to this study from the non-partisan Government Accountability Office, 83 of the top 100 publicly traded corporations that operate in the US exploit corporate tax havens. Since 2009, America’s most profitable companies such as ExxonMobil, General Electric, Bank of America and Citigroup all paid a grand total of $0 in federal income taxes to Uncle Sam. Tax havens alone account for up to $1 trillion in tax revenue lost every decade, money that could be invested in K-12 education, colleges, public health, job creation and hundreds of other worthy public programs.
If we pay our taxes, why don’t they? If corporations profit here, shouldn't they pay here?
49% of individauls pay no income tax and 69% pay notthig when you figure the servie they get. Most don't employ anyoen either. But the top 10% of income alos pay the mjority of taxes. Some even pay double at the investment level and then agin personally.I really don't see the point here of Op unless he really thinks that the middle class pay all the taxes which agin isn't true. That is a good reason to redo the tax code to have more people pay to braoden the tax revenues and yet actaully lower the rates. Democrats have foought this for decades tho. That is exactly what mnay staes and local government are doing to attract corproations and broaden their revenues.Much of the corporations actaully distribute their profit to inhvestros who pay the taxes plud local governamnt highly depends on ther corprations local taxes because ofteh it is a large part of local revenues.
49% of individauls pay no income tax and 69% pay notthig when you figure the servie they get. Most don't employ anyoen either. But the top 10% of income alos pay the mjority of taxes. Some even pay double at the investment level and then agin personally.I really don't see the point here of Op unless he really thinks that the middle class pay all the taxes which agin isn't true. That is a good reason to redo the tax code to have more people pay to braoden the tax revenues and yet actaully lower the rates. Democrats have foought this for decades tho. That is exactly what mnay staes and local government are doing to attract corproations and broaden their revenues.Much of the corporations actaully distribute their profit to inhvestros who pay the taxes plud local governamnt highly depends on ther corprations local taxes because ofteh it is a large part of local revenues.
My question is, what happened to "sharing the burden"?
That's my question too!
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