Wall Street Journal: President Obama’s Job Killing Corporate Tax Policies Yields Lowest Corporate Tax Rate Since 1972 – Now What Nutters?
With Tax Break, Corporate Rate Is Lowest in Decades
WASHINGTON—U.S. companies are booking higher profits than ever. But the number crunchers in Washington are puzzling over a phenomenon that has just come into view: Corporate tax receipts as a share of profits are at their lowest level in at least 40 years.
Total corporate federal taxes paid fell to 12.1% of profits earned from activities within the U.S. in fiscal 2011, which ended Sept. 30, according to the Congressional Budget Office. That’s the lowest level since at least 1972. And well below the 25.6% companies paid on average from 1987 to 2008.
(Headline homage #2)
It’s nice to see the WSJ admit the effective corporate tax rate was 25.6% and not the 35% our right wing extremist friends would have you believe.
Now that yet another gop lie has been exposed, now what, nutters?Tags: WTF?