The Strenuously Hushed-Up Fundamental Flaw In The Tax Code | ZeroHedge: "“Corporate Tax Dodging In The Fifty States,” a report that the CTJ released today, found that the largest corporations paid little or no state income taxes in any state for the years 2008-2010. In a prior report, the CTJ found that some of the most profitable US corporations paid no federal income taxes over the same period. Both reports are an indictment of one of the major problems dogging the US economy: our tax system—and its most fundamental flaw that not even tax reformers dare to mention.
The Internal Revenue Code serves two functions: raise money for the government; and dole out benefits and subsidies to industries, companies, pet projects, individuals, shrimp fisheries, etc. in return for campaign contributions, votes, and fringe benefits such as free plane rides, bundles of cash, sweetheart mortgages, or well-paid jobs for staffers when they move on. It’s the congressional bread and butter. And the economy pays the price."
RTWT even if you're part of the 1% who do...
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