Corporate Profits and Tax Loopholes

April 8, 2014 by · Leave a Comment 

Record US corporate profits are the beneficiary of easy money, near zero interest rates and monopolist aided government tax policies. The upward surge in earnings since the depths of the financial collapse proves one incontrovertible fact; namely, tax regulations, implemented to aid favorite companies, is the operational model of the corporatist economy. Americans for tax fairness for 2013 report on 10 Companies and Their Tax Loopholes. Included in this examination on Bank of America, Citigroup, ExxonMobil, FedEx, General Electric, Honeywell, Merck, Microsoft, Pfizer and Verizon, indicated “corporations have stepped into the fray with some of the most aggressive lobbying we’ve seen in years – calling for cuts to corporate tax rates, a widening of offshore tax loopholes.”

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