Apparently some naughty multinationals have been avoiding tax.
Senate Panel Points to 'Tax Avoidance' by Microsoft and HP -- Redmondmag.com
Levin's memo pointed to an earlier Congressional report showing that corporations have been paying less and less tax over the years. Companies paid 32.1 percent of all U.S. federal tax revenue in 1952, but they currently just contribute 8.9 percent. Meanwhile, the rate of federal tax contributions by individuals has stayed about the same at 42.2 percent in 1952 and 41.5 percent today.
Senate Panel Points to 'Tax Avoidance' by Microsoft and HP -- Redmondmag.com
Levin's memo pointed to an earlier Congressional report showing that corporations have been paying less and less tax over the years. Companies paid 32.1 percent of all U.S. federal tax revenue in 1952, but they currently just contribute 8.9 percent. Meanwhile, the rate of federal tax contributions by individuals has stayed about the same at 42.2 percent in 1952 and 41.5 percent today.
