The Big Fake on the Corporate Tax Rate
It has been widely reported that the U.S. corporate tax rate is now the highest in the world. While in fact, the U.S. rate is the highest at 39.2 percent – the jokes on anyone who actually believes that some of the largest corporations pay anything close to that figure.
Why? Tax loopholes, subsidies, deductions…a whole host of legal tricks makes 39% a quaint notion. Our approach to taxing multi-national corporations enables them to legally shift their profits around the world to escape their responsibilities here in the U.S. Over 80% of the largest corporations do it. And the jokes on us.
Read: the shocking list of inconvenient truths about the corporate tax rate here in the U.S. We’ll get you started: the average corporate tax rate paid hovers around 12%.
Watch: The Big Fakeout: View this customized video clip that reveals how corporations dodge taxes and the tax rates they actually pay on huge profits.
Act: Urge your Senators to support the CUT Loopholes Act – Sign here, send a letter or an email.
Are you a small business owner or formerly a small business owner? Sign this petition for fair corporate tax reform!
Interested in more evidence?
Read reports and survey results that make the case that corporate loopholes are raiding the U.S. Treasury, hurting small businesses… and are for sale.
Corporate Tax Dodgers – 2008 – 2010 – Citizens for Tax Justice
Small Business Survey Results on Tax Reform - American Sustainable Business Council, Main Street Alliance and Small Business Majority
Loopholes For Sale - U.S. PIRG and CTJ Report on Tax Dodging/Lobbying
Still not convinced that the joke's on us?
Read what our partners saying in opinion pieces and blogs across the country and across the world – representing a different view from the “top” of the corporate tax rate.
The Race to the Bottom on Corporate Tax - Tax Justice Network USA
“Look who pays less in taxes than Warren Buffet and Mitt Romney?” - Business for Shared Prosperity
"They pay little or no taxes on massive U.S. profits and then have the gall to lobby for lowering the 'high' corporate tax rate. They’re even campaigning for a tax holiday to 'repatriate' profits they have stashed offshore to avoid taxes. Patriots pay their taxes; they don’t dodge them." – Small Business Chamber of Commerce
“The idea that giant corporations that currently pay no income taxes will suddenly start paying taxes is hilarious.” - Firedoglake
“Cutting corporate taxes right now is insane” - A view from across the Atlantic –Tax Justice Network UK