federal income tax

Corporate Tax Dodgers

Profitable American companies paid just 12.6 percent of their profits in federal income taxes in 2010 -- well below the 35 percent federal corporate income tax rate, according to a new study by the Government Accountability Office.

Obama Argues For Buffet Rule

President Obama appeared in Florida Tuesday to make the case for the “Buffett Rule,” a policy he introduced in this year’s State of the Union address. The rule would institute a minimum federal income tax of 30 percent for Americans who make more than $1 million a year.