Recent Studies Have Shown the Nation’s Largest Corporations Pay NO Income Taxes

Recent reports, mostly engineered by left-leaning advocacy groups, showed that close to 300 of the nation’s largest corporations paid no federal income taxes between 2008 and 2011. And some received credits from the government.

Citizens for Tax Justice released the report which showed that 78 percent of American corporations paid significantly less than the 35 percent tax rate for corporations; the average tax rate for the three year period was 18.5 percent. Some corporations involved in the study paid a 25 percent tax rate.

The report also stated that the tax credits taken by the 280 companies amounted to $222.7 billion over the three year period.

Companies like General Electric and Wells Fargo, who are listed in the report, have a staff of accountants and tax attorneys to help them navigate the complex tax code and hopefully pay reduced rates.

According to these corporations, paying lower less in taxes allows them to create more jobs. They also believe that this study was politically motivated and inaccurate.

The Citizens for Tax Justice have stated that report was intended to show the disparity in what the average citizens pay in taxes compared to what corporations pay because of the many loopholes available to them.

The fact is that we all on pay taxes one way or another and if we don’t then we may need tax lawyers when the IRS comes knocking. Both sides of the corporate tax argument and tax attorneys will all likely agree that the tax code is complicated and in need of  serious reform, so that all citizens are treated fairly.