Tuesday, April 15, 2014
Tax Day For Corporate America
Its very common to hear complaints about the high tax rate that US corporations are burdened with. This article provides a few examples of loopholes in the tax code that reduced the effective corporate tax rate from 35% to 12.6% in 2010 (the last year that this statistic was reported). This is one of the reasons why the DC area has been experiencing rapid growth. The lobby industry has been growing rapidly because it produces a high rate of return for its clients. Ordinary citizens are not among their clients. The tax burden is shifted from those who are represented by lobbyists, to most of us who have little voice in Washington. That includes many small businesses which are faced with another disadvantage if they compete against large corporations.