Thursday, November 3, 2011

Corporate taxes (event 2)

According to CNN's study http://money.cnn.com/2011/11/03/news/economy/corporate_taxes/?hpt=hp_t2 many of the largest corporations are paying on average 18.5% taxes, when the tax rate is supposed to be 35%. This is caused due to all of the loopholes in taxation laws. This problem has become common knowledge and can be fixed by lowering the overall tax, but cutting out most loopholes. I agree that this needs to be fixed, but unfortunately the Senate will probably not get around to it for a while.

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