Even so, tax breaks for corporations (and their investors, particularly large ones) were a major part of the Administration's 2002 and 2003 initiatives. Today, many large corporations ... pay nothing close to the stated federal tax rate of 35%.
Yeah, yeah, yeah. We've heard it all before, right? Another poor slob complaining that the rich or corporations do not pay their fair share in taxes.
If class warfare is being waged in America, my class is clearly winning.
Your class is winning? Huh? Who is this guy?
Indeed, if only 540 taxpayers paid the amount Berkshire will pay, no other individual or corporation would have to pay anything to Uncle Sam. That's right: 290 million Americans and all other businesses would not have to pay a dime in income, social security, excise or estate taxes to the federal government. (Here's the math: Federal tax receipts, including social security receipts, in fiscal 2003 totaled $1.782 trillion and 540 Berkshires, each paying $3.3 billion, would deliver the same $1.782 trillion.)
Letter from the Chairman (Warren Buffet) (pdf file)
Oh, its Warren Buffet. One of the wealthiest Americans, the most successful investor in the history of the US and Chairman of the board of Berkshire-Hathaway, one our wealthiest companies. He thinks our tax system unfairly favors the wealthy and corporations. In this same letter to shareholders, he also says:
Corporate income taxes in fiscal 2003 accounted for 7.4% of all federal tax receipts, down from a post-war peak of 32% in 1952. With one exception (1983), last year's percentage is the lowest recorded since data was first published in 1934.
This is class warfare and it is being led by Bush and DeLay. They've got to go.