Monday, April 8, 2013

Corporations Benefit from Public Services – But Cut Corners and Screw them Over

"The Corporate Betrayal of America"
In his opinion column, Paul Buchheit breaks down how Corporations benefit from our government research, national defense, legal and educational systems, and our infrastructure – but pay fewer taxes, cut workers, and refuse to reinvest their profits in research or job development.

"From 2003 to 2011 total corporate profits more than doubled from $900 billion to almost $2 trillion, but the corporate income tax rate dropped by more than half, from 22.5 percent to 10 percent... According to U.S. PIRG and Citizens for Tax Justice, 280 top-earning Fortune 500 companies, which together paid only half of the maximum 35 percent corporate tax rate, received $223 billion in tax subsidies."

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