A report by two nonprofit groups — Citizens for Tax Justice and the Institute on Taxation and Economic Policy — has uncovered yet more evidence that many of our biggest companies pay no federal takes and even get credits from the government that their lobbyists work assiduously to undermine.
(Below the jump is a chart with a small portion of the list.)
The report demonstrates that 30 of the 280 companies they looked at paid zero taxes or used loopholes to wind up with negative tax rates. Washington’s Pepco Holdings paid the lowest rate of all the firms investigated, clocking in at nearly minus 58 percent. Forty percent pay less than half of the established rate of 35 percent about which some politicians complain so much.
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