U.S. Corporate Taxes

Meteor Blades at Daily Kos says:

At CommonDreams, Paul Buchheit writes: A 35% corporate tax rate means zero taxes. So go ahead, cut it to 25%:

"In 2010 General Electric made $14 billion and received a $3 billion tax refund. The response by business? The 35% corporate tax rate is too high. Tax cuts, they continue to say, will spur economic growth and create jobs, and allow American companies to compete in a global economy.
"[...]
"Finally, in a U.S. Treasury report of global competitiveness (Table 5.3), it is revealed that U.S. corporations paid 13.4% of their profits in taxes between 2000 and 2005, compared to the OECD average of 16.1%. (Although the Tax Foundation notes that tax rates of other nations have fallen while the U.S. has remained unchanged.)"

**********

That's just fine with Newt Gingrich. According to Scott Keyes at Think Progress, Gingrich "... praised the fact that even though many corporations were avoiding taxes, their employees would still be forced to contribute to the government’s coffers.

"Gingrich concluded by enthusiastically championing corporate tax loopholes, telling ThinkProgress that corporations were using 'an incentive…not a loophole.' 'We should celebrate that as a good thing,' Gingrich added."