Half avoid taxes, get US help, but many not poor
Mitt Romney got the math about right. But when he said 47 percent of Americans pay no income taxes and are "dependent on government," he blurred together half or more of the entire country, ranging from the nation's neediest to its middle class, and even some of its richest families.
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#1 Sep 18, 2012
The tax battle has been purposely shifted to the individual level when it should be on the corporate/business level. When GE pays NO TAXES on 5 BILLION DOLLARS on a 55,000 page income tax return using loopholes created by congress...THIS IS where the focus should be.
Another report says major corporations avoided almost 200 BILLION dollars in taxes with the same or similar loopholes.
Some of those 'loopholes' include the corporate laundering of money/profits overseas.
And believe it or not I'm pretty much a free market eliminate INDIVIDUAL taxes person. But this is ridiculous when individuals pay more than corporations with BILLIONS in profits. I'm not saying drain them dry but something has to be done. Many of these corporations have already outsourced and yet still do business here in the US.
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