Warren E. Buffett, take note. It is not just a few wealthy individuals paying unusually low taxes to the federal government. Corporate America is not far behind.
A comprehensive study released on Thursday found that 280 of the biggest publicly traded American companies faced federal income tax bills equal to 18.5 percent of their profits during the last three years â€” little more than half the official corporate rate of 35 percent and lower than their competitors in many industrialized countries.
Mr. Buffett, the billionaire investor, has said that the tax code is unfair, allowing him to pay just 17 percent in federal taxes last year, about half the percentage his secretary paid.
As always, more there.
So much for the belief that the top 1% pay 45% of the taxes.
What politics from both sides wants to teach us is that things are never complex. If you have your little package and something doesn't fit into that package, You don't know what to make of it so you want to dismiss it or then you will have to do the work of reconsidering your assumptions. - Michael Malice