tag:blogger.com,1999:blog-1550222691875074441.post8434937305367113100..comments2024-01-30T05:25:56.085-07:00Comments on A Teacher's View: Taxes Ceiling and Floormmazenkohttp://www.blogger.com/profile/06602797515366983639noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-1550222691875074441.post-60600155805696520432010-01-04T20:11:21.041-07:002010-01-04T20:11:21.041-07:00The GAO reports that 90% of corporations of in thi...The GAO reports that 90% of corporations of in this country pay no "corporate income tax." That is because they are able to "account" for taxable income in a way that they show no taxable income each year. However, the ones that do pay "on average" a rate of 5% of their taxable income. Obviously, some may pay 1% and some pay 10% but the average corporation pays taxes on 5% of its taxable income.<br /><br />These stats are available through reports by the GAO.mmazenkohttps://www.blogger.com/profile/06602797515366983639noreply@blogger.comtag:blogger.com,1999:blog-1550222691875074441.post-29000191646840063852010-01-04T17:02:56.694-07:002010-01-04T17:02:56.694-07:00I'm still not sure where you're coming up ...I'm still not sure where you're coming up with 5%. 5% of what? Does that mean, for example, that if you have three corporations, one with $40,000 net taxable income paying a 15% tax on that income, and two other corporations that have no taxable income and, therefore, pay no income tax, this averages out to a 5% tax rate between the three? How do you come up with 5%?stevennoreply@blogger.comtag:blogger.com,1999:blog-1550222691875074441.post-37272538808055728602010-01-04T15:19:00.052-07:002010-01-04T15:19:00.052-07:00In terms of corporate income tax, they pay about 5...In terms of corporate income tax, they pay about 5%, as opposed to the official "corporate income tax rate" of 35% that many in the GOP are fond of saying is the reason companies move offshore. The rate may be 35% but no pays that. It's the same thing for personal income tax. The top marginal rate may be 36%, but no one is paying that.mmazenkohttps://www.blogger.com/profile/06602797515366983639noreply@blogger.comtag:blogger.com,1999:blog-1550222691875074441.post-49753259952760185422010-01-04T13:19:16.698-07:002010-01-04T13:19:16.698-07:00Corporations pay 5% of what, Michael?Corporations pay 5% of what, Michael?stevennoreply@blogger.com