by shemayaza_born on photobucket
Big Fish eat little fish. That’s how it works. You hear all the time that our corporate taxes are the highest in the world. Sure, but most U.S. corps don’t pay it. 83 out of the top 100 companies paid zero taxes between 1999 and 2005. (IRS study). Zero. Companies like Exxon, GE, Carnival Cruise Line, Verizon use various loopholes to get out of paying any taxes. In the 1950s, corporations contributed about 30% of all federal revenue. Now it is down to 6%. So what happens? The tax burden is shifted to the rest of us small fry in the form of sin taxes, property taxes, and all kinds of licenses and fees that small business fish have to pay. And then the big fish wait until the small fish are gasping for air and then they gobble up their business. Continue reading
Filed under: Politics | Tagged: capitalism, class warfare, GE, inequality, Taxes | 1 Comment »
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