McCain wants to give more tax breaks to corporate America, but what about the corporations that pay nothing in taxes?
Two-thirds of U.S. corporations paid no federal income taxes between 1998 and 2005, according to a new report from Congress.
The study by the Government Accountability Office, expected to be released Tuesday, said about 68 percent of foreign companies doing business in the U.S. avoided corporate taxes over the same period.
Collectively, the companies reported trillions of dollars in sales, according to GAO’s estimate.
So these companies make “trillions” and pay nothing in taxes, yet we are supposed to feel sorry for them? That’s really going to happen.