US Corporations Pay Far Less In Taxes Than You Think
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FEATURING HUNTER BLAIR – Right wing economists often decry US corporate tax rates as being among the highest in the world. In fact that is the basis for much of the Republican-led efforts to re-write the US tax code. But although the theoretical tax rate, or what is called the “statutory” tax rate, is 35%, the actual rates that corporations pay vary between 12% and 19%.
A new report by the Economic Policy Institute suggests that rather than reducing the statutory tax rates for corporations, the US needs to close the myriad loopholes that enable corporate tax dodgers.
Find the report at www.EPI.org.
Hunter Blair, Budget Analyst with the Economic Policy Institute.