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One would need to go back about 100 years to find lower federal tax brackets for high income earners.Yet, somehow, that American Dream flourished.
Actually for the majority of American history that the economy wasn't having constant crashes, high income earners paid very high taxes. The only times they didn't in the 20th century a great depression or great recession occurred years later.
"Citizens for Tax Justice looked at 288 profitable Fortune 500 companies and said that 26 of them - including Boeing Co (BA.N), General Electric Co (GE.N) and Verizon Communications Inc (VZ.N) - paid no federal income tax in the five-year period.
The group also said that 111 of the 288 companies paid no federal income tax in at least one of the five years measured."
"A surprising number of companies in the Standard & Poor's 500, 57, have found ways to pay effective tax rates of zero, according to a USA TODAY analysis of data from S&P Capital IQ."
"Citizens for Tax Justice looked at 288 profitable Fortune 500 companies and said that 26 of them - including Boeing Co (BA.N), General Electric Co (GE.N) and Verizon Communications Inc (VZ.N) - paid no federal income tax in the five-year period.
The group also said that 111 of the 288 companies paid no federal income tax in at least one of the five years measured."
"A surprising number of companies in the Standard & Poor's 500, 57, have found ways to pay effective tax rates of zero, according to a USA TODAY analysis of data from S&P Capital IQ."
Well, since it has been claimed that corporations, after deductions, pay zero taxes I am sure the liberals will be happy with a 2% corporate tax with no deductions.
I favor a corporate tax with no deductions. That is the free market approach. Somewhere around 10%.
Well, since it has been claimed that corporations, after deductions, pay zero taxes I am sure the liberals will be happy with a 2% corporate tax with no deductions.
I favor a corporate tax with no deductions. That is the free market approach. Somewhere around 10%.
LOL.....they could not afford to pay ALL the costs of the goods and services the purchase.
LOL.....they could not afford to pay ALL the costs of the goods and services the purchase.
Those deductions keep prices low.
Actually they don't affect prices at all. They just affect the incompetent CEOs ability to purchase mega yachts.
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