Why can't we stop bestowing huge credits for corporations who pay taxes to Russia?
freddonaldson.substack.com
Illustration by Victor Juhasz The fat cats enjoy IRS credits for taxes paid overseas to avoid paying income taxes in the United States. It's a big loophole and Congress refuses to close it. Even with the changes in recent years to the IRS code, the effective corporate tax rate of profits brought into this country is half the regular rate at no more than 10.5%. Meanwhile, the very lowest individual income tax is 10%.
Why can't we stop bestowing huge credits for corporations who pay taxes to Russia?
Why can't we stop bestowing huge credits for…
Why can't we stop bestowing huge credits for corporations who pay taxes to Russia?
Illustration by Victor Juhasz The fat cats enjoy IRS credits for taxes paid overseas to avoid paying income taxes in the United States. It's a big loophole and Congress refuses to close it. Even with the changes in recent years to the IRS code, the effective corporate tax rate of profits brought into this country is half the regular rate at no more than 10.5%. Meanwhile, the very lowest individual income tax is 10%.