Friday, September 5, 2008
Statistics Don't Lie But Corporate Interests Groups Do
I am SO sick of business interest groups running these ridiculous commercials that criticize the US for supposedly having "the highest corporate tax rates among OECD countries." Everyone knows (including the jerks who are running these advertisements) that loopholes in the US tax laws in fact result in much lower tax rates for corporations in the US than in European countries and Japan. Most corporations don't even pay income taxes (the result of a perverse interpretation of the 14th amendment that allows corporations to be granted rights as 'individuals' under US law). What taxes they do pay comes from the paychecks of their employees (and I think we've all seen in the last few years that the more money executives make the more they can pay their accountants to hide it in offshore accounts). It disgusts me that these groups can run these commercials that are in essence lying to the public (especially to the public that hasn't had the fortune of a higher education in economics). Here's a link that explains in detail why US corporate tax rates are NOT in fact higher than those elsewhere in the developed world.
Posted by Bint Al-Beltway at 9:00 AM