October 30, 2011 |
ADEMONSTRABLY BAD idea in pursuit of a possibly worthy goal is still a bad idea. In this instance, the demonstrably bad idea is giving corporations a federal tax break — make that another tax break — on "repatriated profits," money they earn overseas and bring home. The goal is an infrastructure bank to help build roads and other projects. Such an entity could help rationalize the hodgepodge of politically dictated projects and leverage private capital. But arithmetic's basic laws must prevail: You can't pay for an...
September 22, 2011 |
My usual journalistic role is to expose wrongdoing, point with alarm, and distill complicated information into clear explanations of what's really going on in the world. I rarely offer specific solutions, because that's not my job — I'm an observer and critic, not a policymaker. Today, though, I'm going to depart from form and suggest a solution to a problem that's plaguing the current debate about corporate income taxes: too many numbers, too little knowledge. It's simple, really: Get the Financial Accounting...
May 11, 2011 |
Just how much do big oil companies pay in taxes? Exxon Mobil says it pays plenty — more in U.S. taxes than it earned in the United States last year. Not so, say critics of the oil industry; the Center for American Progress says the oil giant's effective federal income tax rate is about half the 35 percent standard for U.S. companies. The liberal-leaning think tank, citing Exxon Mobil's filings with the Securities and Exchange Commission, says the corporation didn't pay any federal income tax in 2009.
February 21, 2012 |
President Obama proposed a major overhaul of the nation's corporate tax code on Wednesday, an election-year gambit that aims to draw a contrast over a key policy issue with the Republicans vying to replace him. The plan would lower the nation's corporate tax rate to 28 percent. At the same time, Obama wants to boost overall revenue from corporate taxation by banning numerous deductions and loopholes that save companies tens of billions of dollars a year on their tax bills. The current U.S....
May 5, 2011 |
Amid record corporate profits and a raging debate in Washington about how to close the country's budget deficit , the Treasury Department has finished drafting a plan to reform the taxes companies pay. A major goal: lowering the tax rate for businesses. Faced with a fledgling economic recovery, the Obama administration sees an overhaul of the corporate tax code as a way to spur growth. But the Treasury plan, which is being reviewed by the White House, could be a...
August 6, 2011 |
Many executives of big public companies have shared their ideas about corporate tax reform in hearings before policymakers. Just last week, the chief executive officers of Wal-Mart, Kimberly-Clark, CVS and PMC-Sierra said they are willing to give up tax breaks in exchange for lower tax rates. Higher-ups at Procter & Gamble, Siemens USA, Boeing and Perrigo Pharmaceuticals have also spoken up. But what about the little guys? Non-publicly traded companies that are structured as so-called ...