Michael Y., 1/25/2009 - 9:33am "Re: Glee3d
Paul Krugman: http://krugman.blogs.nytimes.com/2008/08/18/pity-the-poor-corporations/
"Now, the thing you have to realize about corporate taxes is that the statutory rate — the rate you pay after allowed deductions and all that — means very little. That’s because corporations have lots of potential deductions — and can hire the very best accountants to find them, and lawyers to justify them. So any time you see a table that compares the nasty 35% US rate with other countries, you know you’re being snowed.
"A much better indicator is the amount of taxes corporations actually pay ... basically the United States looks normal [compared to other countries]. This whole fuss is much ado about nothing — or rather, it’s about the ability of special interests to create a firestorm of publicity over the alleged need to do something that, whaddya know, would improve their bottom line.""
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