Tuesday, August 12, 2008

report out soon

i couldn't find this story anywhere other than ap- so i am linking to the blog that found it. i will also provide the link to the gao website but i don't think the report has made it there quite yet.

"Two-thirds of U.S. corporations paid no federal income taxes between 1998 and 2005, according to a new report from Congress.

The study by the Government Accountability Office, expected to be released Tuesday, said about 68 percent of foreign companies doing business in the U.S. avoided corporate taxes over the same period.

Collectively, the companies reported trillions of dollars in sales, according to GAO's estimate.

"It's shameful that so many corporations make big profits and pay nothing to support our country," said Sen. Byron Dorgan, D-N.D., who asked for the GAO study with Sen. Carl Levin, D-Mich."


an average patriot said...

I saw that this morning and i think the date they used was 1999. I was thinking great job George. That makes a lot of sense when bankrupting America is the goal. I was going to discuss this but I had to update events in Georgia so thanks!

WeezieLou said...

for me, the worst thing abt reading this blog entry is that I wasn't surprised at all.

Beth said...

Check CNN for the link because I heard it on their radio news when I woke up to it this morning. That's why they support Republicans...media is corporate run too which is why the news is slanted.

thepoetryman said...

I'm with weez...

Or should I say I agree with weezielou's comment.

The Future Was Yesterday said...

This "report" surfaces periodically, and everybody, even some in government, ooh and aah about how bad it is, those big bad companies.

"But yet not a goddamn thing has been done to stop this problem for decades."