Monday, May 16, 2011

A Cartoon Guide to How Corporations Avoid Paying Taxes (in Ways You Can't)

As the graphic below states, corporate taxes accounted for 30% of all federal revenue in the 1950s; now it's just 6%, and the difference has been made up almost entirely by increased payroll taxes (i.e. by taxing you more).

How do corporations manage to pay less in taxes than you, even though they theoretically have a 35% marginal tax rate? Here's how:

How Corporations Get Out of Paying Taxes

Maybe, just maybe, one day, the government will close these loopholes (and give unicorns to all children born in the U.S.), but for now, you can be [proud? angry? sad? indifferent? jolly? incensed? perfumed?] that you paid more in taxes last year than GE did.

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