Community | March 27, 2011 | 6 comments

Corporations are the true welfare queens

source: http://economix.blogs.nytimes.com/2011/03/25/podcast-taxes-debt-and-regulation/?scp=2&sq=ge%...

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Before Reagan, corporations paid 34% of the revenue the government collected. Now they pay around 6%. The wealthiest 2% paid 74% income tax. That rate is closer to 15% today.

General Electric is the biggest corporation based in the United States, and it had a very successful 2010, with billions of dollars in profits.

But it paid nothing at all in taxes in the United States. As David Kocieniewski writes in The Times, the company actually claimed a tax benefit of $3.2 billion.

http://economix.blogs.nytimes.com/2011/03/25/podcast-taxes-debt-and-regulation/?...
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  2. tags:
    Taxes,  GE,  Corporate welfare
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