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View Diary: That Sucking Sound? It's The 73 Billion-Dollar Corporate Robbery of The States (97 comments)

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  •  I support the principle (3+ / 0-)
    Recommended by:
    coffeetalk, FG, VClib

    But I'm not crazy about the study.  

    1.) For starters, calculating anything in comparison to this 6.25% corporate tax rate strikes me as weak.  Weighted average by state domestic product?  Come on.  A 50-state survey isn't some impossible task.  

    2.) Even accepting that number, comparing the marginal rate to the percentage of pre-tax profits paid is borderline dishonest.  Tax deductions aren't some secret fraud, they're a very familiar part of the tax code.  And they added depreciation back into profits, which is a very real cost to business.  

    3.) Stating that big companies are shifting tax burdens on to small businesses is probably true, but they don't prove it here.  If big corporations pay x% of their profits in state taxes, what do small corporations pay?

    4.) Their proposals are solid, but I don't know how valuable they are because it's not what they studied.  How much do the states pay in corporate tax incentives?  How much could be raised by closing profit-shifting loopholes?

    The policy proposals seem sound, but the data isn't really useful other than to throw around big numbers.

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