No Fooling - Corporations Evade Taxes
Publisher: Dollars & Sense, USA
Date Written: 01/05/2011
Year Published: 2011
Resource Type: Article
Cx Number: CX12715
Closing corporate loopholes so that corporate income tax revenues in the United States match the 3.4% of GDP collected on average by OECD corporate income taxes would add close to $200 billion to federal government revenuesmore than five times the $39 billion of devastating spending cuts just made in the federal budget in 2011. Returning the corporate income tax revenues to the 4.0% of GDP level of four decades ago would add close to $300 billion a year to government revenues.