No Fooling - Corporations Evade Taxes

Miller, John
Date Written:  2011-05-01
Publisher:  Dollars & Sense, USA
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 revenues—more 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.

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