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Politics : Liberalism: Do You Agree We've Had Enough of It?
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To: Kenneth E. Phillipps who wrote (38891)8/12/2008 7:20:24 AM
From: puborectalis  Read Replies (3) of 224748
 
Study: Most companies avoid income taxes
GAO report says both U.S. owned and foreign corporations dodge levy
WASHINGTON - Unlike the rest of us, most U.S. corporations and foreign companies doing business in the United States pay no federal income tax, according to a new report from Congress.

The study by the Government Accountability Office, expected to be released Tuesday, said two-thirds of U.S. corporations paid no federal income taxes between 1998 and 2005, and about 68 percent of foreign companies doing business in the U.S. avoided corporate taxes
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