Before you complain about corporate tax rates ... | Arkansas Blog

Tuesday, May 3, 2011

Before you complain about corporate tax rates ...

Posted By on Tue, May 3, 2011 at 6:44 AM

... Read this in Times today. Our rates are higher than most countries, but consider them "sticker" rates.

But by taking advantage of myriad breaks and loopholes that other countries generally do not offer, United States corporations pay only slightly more on average than their counterparts in other industrial countries. And some American corporations use aggressive strategies to pay less — often far less — than their competitors abroad and at home. A Government Accountability Office study released in 2008 found that 55 percent of United States companies paid no federal income taxes during at least one year in a seven-year period it studied.

The paradox of the United States tax code — high rates with a bounty of subsidies, shelters and special breaks — has made American multinationals “world leaders in tax avoidance"

The same holds true for the Arkansas income tax, as Ernest Dumas noted in his article accompanying David Cay Johnson's myth-busting story on U.S. taxes. Bottom line: Only a sucker — or the little guy who can't afford attorneys, accountants and scheme-building — pays sticker price.

Tags: , ,


Sign up for the Daily Update email
Favorite

Comments (10)

Showing 1-10 of 10

Add a comment

 
Subscribe to this thread:
Showing 1-10 of 10

Add a comment

More by Max Brantley

  • The suffering children's open line

    Until it's fixed, nobody is doing enough to resist the Trump administration's cruel and thoughtless handling of asylum-seeking children.
    • May 27, 2018
  • Arming teachers: An insurance complication

    Gun lovers in the Arkansas legislature are spoiling to put more guns in classrooms at the earliest opportunity. Today, the Washington Post reports a complication — from insurance companies.
    • May 27, 2018
  • Razorbacks plan a return to real grass in 2019

    I don't know why the news of a return to real grass at Razorback stadium seemed like such good news to me. Old fogey, I guess.
    • May 27, 2018
  • More »

Readers also liked…

  • Arkansas: Land of .......

    Welcome to Arkansas: Land of cowardly politicians, discriminatory laws, inhumane turkey drops and lots and lots of Trump voters.
    • Oct 8, 2016
  • The inspiring Hillary Clinton

    Hillary Clinton's campaign for president illustrates again the double standard applied to women. Some writers get it. They even find the supposedly unlikable Clinton inspiring.
    • Oct 16, 2016
  • Women's March planned in Arkansas to mark Trump inauguration

    Speaking of Donald Trump and in answer to a reader's question: There will be a women's march in Arkansas on Jan. 21, the day after inauguration, as well as the national march planned in Washington.
    • Dec 30, 2016

Most Recent Comments

Slideshows

 

© 2018 Arkansas Times | 201 East Markham, Suite 200, Little Rock, AR 72201
Powered by Foundation