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View Diary: Four easy fixes for corporate taxation (22 comments)

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  •  While so many are focused on tax laws (5+ / 0-)
    Recommended by:
    DeminNewJ, Kenneth Thomas, zett, JerryNA, jm214

    they miss that some accounting laws are responsible for large differences between "book income" and taxable income, thereby reducing the effective tax rate.

    There is a big difference between the headline rate of 35%, which is indeed tops in the OECD, and the effective rate of 12.1%,
     All sorts of manipulation is done on the accounting side (including capitalizing expenses that should have been deducted) to increase income in a particular year.
      Yes, some tax laws need to be changed, but so do accounting laws.

    My Karma just ran over your Dogma

    by FoundingFatherDAR on Tue May 14, 2013 at 11:18:51 AM PDT

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