What The Top U.S. Companies Pay In Taxes. Our team member Jamie pointed to these two items in the article.
The most egregious example is General Electric. Last year the conglomerate generated $10.3 billion in pretax income, but ended up owing nothing to Uncle Sam. In fact, it recorded a tax benefit of $1.1 billion.
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"Corporations are paying lower amounts of their profits in taxes now than in the past," says Douglas Schackelford, who teaches tax law at the University of North Carolina at Chapel Hill. "Other countries have been lowering their rates, but not the U.S."
All I've seen from these big companies is a race to the bottom unless you force them to behave otherwise. The Humes and Kristols of the world pretend they will behave if you just as Hume put it "unleash" them. Unfortunately we've already seen the results when that happens and it's why the economy is in the mess it is now.