CEOs say they would give up tax breaks [View All]

[titaniumsalute]

Source: MSNBC/Reuters

WASHINGTON — The CEO of Wal-Mart Stores Inc. and other major U.S. employers told Congress Wednesday they would be willing to give up tax breaks that benefit their companies in return for a steep drop in the country's 35 percent corporate tax rate.

Companies, including big companies, pay a much lower overall effective rate by exploiting tax breaks, usually in perfectly legal ways, that in 2011 are costing the government about $102 billion in lost revenue.



Read more: http://www.msnbc.msn.com/id/43915204/ns/business-us_business/

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This is a dumb article. They know if the tax rate is lowered that will show a % of profit as increased. Then their bonuses increase. How dumb do they think the American public really is?