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Here's The Short Version...
of an extremely accurate article on the Tax, this will save you the time it would take to read and analyze all the GAO reports:
The Corporate Tax Dodge
by Cassandra Q. Butts
April 10, 2004
The news that more than 60 percent of U.S. corporations failed to pay
any federal taxes from 1996 through 2000 when corporate profits were
soaring and that corporate tax receipts had fallen to just 7.4 percent of overall federal tax revenue in 2003 – the lowest since 1983 and the
second-lowest rate since 1934 – is an outrage. But it should come as no surprise to anyone who has been paying attention to national tax policy over the past few years. The General Accounting Office (GAO) report also found that an astonishing 94 percent of corporations reported tax liability of less
than 5 percent of their total income during the same time period. Corporate
tax dodging has gone on for far too long. But the policies of the Bush
administration have exacerbated the problem by furthering the culture
of tax avoidance by big corporations and creating a pervasive unfairness in
our tax code.
WGJ
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