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Google's U.S. federal tax liability of 18%. GE's low tax rate.
10/28/2010
The US tax rate for corporations at 35%, but the $1.5 billion federal tax liability of Google comes to an effective 18% tax rate. GE's consolidated tax rate of 11.6% from 2005 to 2009. This is also true of other large American companies, raising questions of fairness at a time of budget cuts in education, Medicaid and Medicare. Many U.S. companies, such as Apple, also use offshore tax havens to protect profits from taxes.
Grouped Articles
Apple Avoided Taxes on Overseas Billions, Senate Panel Finds
Wall Street Journal 05/21/2013
Appleâs Web of Tax Shelters Saved It Billions, Panel Finds
New York Times 05/20/2013
Apple CEO Tim Cook, Lawmakers Square Off Over Taxes
Wall Street Journal 05/22/2013
Wall Street Journal 05/22/2013
Ireland Defends Tax Laws to Critics at Home and Abroad
New York Times 05/21/2013
The Corrosive Effect of Apple’s Tax Avoidance
New York Times 05/23/2013
The Bush tax cuts in 2010.
08/05/2010
In the face of rising deficits, and questions about the future solvency of Medicare and Social Security, there are questions about the Bush tax cuts which expire in December 2010 if not renewed. With high unemployment the consensus seems to be to leave the tax cuts in place for a limited period, and have serious conversation about taxes when a new presidential term begins. A Value added Tax has been suggested by Paul Volcker, similar to that in Europe.
Grouped Articles
The Wisdom and Folly of the Bush Tax Cuts
BusinessWeek 08/05/10
New York Times 08/21/10
Bush Tax Cuts: Now That's Rich
New York Times 08/22/10
Why the Rich Donât Need a Tax-Cut Extension
New York Times 09/25/10
Tax-Cut Vote Shows Democratic Divide
Wall Street Journal 12/03/10
New York Times 12/02/10
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