Corporate Taxes: Who is Really Paying?

Senator Byron Dorgan (D-ND) has had enough. "It's time for the big corporations to pay their fair share," Dorgan said. The focus of his frustration is the fact, confirmed by a Government Accountability Office (GAO) study, that in the US, 66% of US corporations and 68% of the foreign companies doing business in the US avoided paying federal income taxes. The GAO’s study, which was requested by Dorgan and his colleague, Senator Carl Levin (D-MI), covered a period from 1998 to 2005. It developed the statistics, but did not delve into why this was happening.  /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:"Times New Roman"; mso-ansi-language:#0400; mso-fareast-lan... [Read Full Article]

Small Business: When Government Stacks the Deck against You

We expect a fair degree of corruption, arrogance and drooling self-interest from our elected officials. After all, in the last 206 years, we have fallen a great distance from the days of the “virtuous republic” that existed—or was thought to exist—in that first decade after the Revolution. Yes, we expect it, but I would have more respect for the operatives, the party-men and the politicos themselves if they could be just a little intelligent about it. The current issue with the Bush Administration, Congress, the SBA and the awarding of a great deal of money earmarked for small business, is a case in point. When Big Business Seems Small It is illegal, a felony that comes with fines and a prison term, to try to pass your big business off as a small business to get one of the 23% of Federal contracts reserved for small businesses. Yet, it happens all the time. According to the American Small Business League, a non-partisan watchdog group, some $... [Read Full Article]