Taxpayers shouldn’t have to subsidize corporate tax dodgers or bloated CEO salaries.
A recent Government Accountability Office study found that
two-thirds of U.S. corporations paid no federal income taxes between
1998 and 2005. These same companies reported trillions of dollars in
earnings.
What’s the hustle? A U.S. corporation pretends to make all of its
profits at a subsidiary based in a place like the Grand Cayman Islands
that has no corporate income tax. Meanwhile, the U.S. branch of the
company reports only losses. No U.S. profits, no taxes.
Read more about corporate taxes here.