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    Perfectly Legal: The Covert Campaign to Rig Our Tax System to Benefit the Super Rich--and Cheat Everybody Else
    by David Cay Johnston
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    The Cheating of America: How Tax Avoidance and Evasion by the Super Rich Are Costing the Country Billions--and What You Can Do About It
    by Charles Lewis
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    The Great American Tax Dodge: How Spiraling Fraud and Avoidance Are Killing Fairness, Destroying the Income Tax, and Costing You
    by Donald L. Barlett, James B. Steele
  • Reward: Collecting Millions for Reporting Tax Evasion, Your Complete Guide to the IRS Whistleblower Reward Program
    Reward: Collecting Millions for Reporting Tax Evasion, Your Complete Guide to the IRS Whistleblower Reward Program
    by Joel D. Hesch
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Wednesday
Apr132011

Corporations and the Swiss Cheese Tax Code

AuthorDavid Callahan

Many Americans were appalled when it was revealed recently that General Electric would pay no taxes for 2010, despite U.S. profits of over $5 billion.

But I doubt that there is a single top tax attorney or chief financial officer in the country who was all that surprised. You see, these people are denizens of Loophole Land – a very different place than W-2ville where most Americans live.

In Loophole Land, nothing is quite as it seems. Yes, there is a top corporate tax rate of 35 percent, but it is well understood that nobody actually pays that. On the contrary, many companies pay nothing at all.

How can this be?

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DateWednesday, April 13, 2011 at 4:46PM | Reference1 Reference |

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    Response: kitchen storage cabinets
    at kitchen storage cabinets on April 13, 2012
    [...]Corporations and the Swiss Cheese Tax Code - Tax Evasion - CheatingCulture[...]

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