From 2006 To 2012, Two-Thirds Of U.S. Corporations Did Not Pay Federal Income Tax

[LiberalArkie]

Every year from 2006 to 2012, some two-thirds of U.S. corporations did not pay federal income tax, according to a Government Accountability Office study released on Wednesday. In 2012 alone, 42.5 percent of businesses that the GAO defines as large did not pay federal taxes, including 19.5 percent of big corporations that posted a profit.

The GAO said those corporations in the black that still did not pay federal taxes benefitted from loopholes and tax incentives, such as the practice of rolling over losses from previous years. That enables companies to deduct those losses from their tax burden.

Profitable U.S. corporations paid, on average, an effective federal income tax rate of 14 percent over the slightly shorter period from 2008 to 2012, the federal government watchdog found.

Democratic presidential candidate Sen. Bernie Sanders (I-Vt.), who requested the report, immediately condemned the findings and touted legislation he has co-sponsored to curb corporate tax avoidance.

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http://www.huffingtonpost.com/entry/gao-study-profitable-corporations-no-federal-taxes_us_570e6c62e4b0ffa5937dbadb

[Politicalboi]

1. Thank You Hillary

They couldn't have done it without her and Bill and the Clinton Foundation.

[bigwillq]

2. Gross.

The country is a mess.