Chamber of Commerce targets corporate tax rateBut what the Chamber's article DIDN'T mention was that most corporations pay NO taxes.
President Barack Obama has publicly said he’s willing to consider a reduction in the tax rate companies pay to the government.
The GAO said corporations escaped paying federal income taxes for a variety of reasons including operating losses, tax credits and an ability to use transactions within the company to shift income to low tax countries.Anyone who's ran a business knows it's easy to show 'losses' on paper for tax purposes, but you still made a nifty profit.
Most U.S. and foreign corporations doing business in the United States avoid paying any federal income taxes, despite trillions of dollars worth of sales, a government study released on Tuesday said.
During that time corporate sales in the United States totaled $2.5 trillion. The GAO said corporations escaped paying federal income taxes for a variety of reasons including operating losses, tax credits and an ability to use transactions within the company to shift income to low tax countries.
The 'Good Ol' Boys & Gals at the Chamber of Commerce support corporate globalization/free trade, outsourcing of jobs and oppose financial regulation. They also oppose healthcare reform and just LOVE that special interest money that comes from unnamed foreign entities.
Top Corporations Aid U.S. Chamber of Commerce CampaignAnd who owns those corporations that haven't been paying ANY taxes since at least 1998?
Prudential Financial sent in a $2 million donation last year as the U.S. Chamber of Commerce kicked off a national advertising campaign to weaken the historic rewrite of the nation’s financial regulations.
Dow Chemical delivered $1.7 million to the chamber last year as the group took a leading role in aggressively fighting proposed rules that would impose tighter security requirements on chemical facilities.
And Goldman Sachs, Chevron Texaco, and Aegon, a multinational insurance company based in the Netherlands, donated more than $8 million in recent years to a chamber foundation that has been critical of growing federal regulation and spending. These large donations — none of which were publicly disclosed by the chamber, a tax-exempt group that keeps its donors secret, as it is allowed by law — offer a glimpse of the chamber’s money-raising efforts, which it has ramped up recently...
Congress votes to extend Bush tax cuts on the rich and super-rich
Republicans go easy on cuts for Congress
Republicans now running the House are barely touching Congress' own generous budget even as they take a cleaver to many domestic agencies.
A new GOP proposal would reduce domestic agencies' spending by 9 percent on average through September, when the current budget year ends.
The plan, developed in close consultation with Republican Speaker John Boehner's office, would cut Congress' budget less than any other domestic spending bill, except for the one covering the Department of Homeland Security.
The Chamber is fighting like mad dogs against the "DISCLOSE ACT," The Democracy Is Strengthened by Casting Light On Spending in Elections Act, which would shine a little light on those darkened places where sleaze bags like to gather:
To amend the Federal Election Campaign Act of 1971 to prohibit foreign influence in Federal elections, to prohibit government contractors from making expenditures with respect to such elections, and to establish additional disclosure requirements with respect to spending in such elections, and for other purposes.
Lobbying Spending Database
Financially strapped states looking to SLASH Medicaid
Congress vows to NOT CUT AID TO ISRAEL
Congress Seriously Considering Raising the Age at Which the Elderly can Draw Social Security