Corporate Income Tax

U.S. Corporations jump through hoops to avoid paying a fair share of U.S. income tax.  In spite of the fact that the U.S. taxpayers support much of the costs of protecting corporate interests outside of the borders of the U.S., corporation CEOs continue to try to push the idea that U.S. Corporate taxes are too high.  The reality is that not a single CEO pushing the idea of “territorial income tax” works for a company that has a record of ever paying a penny in federal income tax at the statutory rate.  Many of the CEOs in the ranks of the “complainers”  actually are employed by corporations that paid little of no U.S. federal income tax.  In addition, changes made to the U.S. tax code during the Clinton Administration has allowed corporations with foreign income to “park” that income outside the U.S. borders and defer any tax on that income until such time as it may be brought back to the U.S.  In spite of this, the very same CEOs include that income when calculating their own compensation and are rewarded as if that income was earned in the U.S.  These very same CEOs are also lying to the American pubic by trying to claim that a “territorial tax system” is in place around the world when only a few countries actually have such a system in place.  And, by the way, those countries with territorial tax do little to protect the interests of corporations beyond their own borders.  Corporate contributions towards the costs of government have been shrinking over the past thirty years yet corporate profits are at all time high along with record levels of corporate executive compensation.  The claims of the various organizations formed to lobby for reduced corporate federal income tax are bogus, not supported by fact, and are self serving for the executives promoting those claims.  Just in the last week, publicity calling for more government support to prevent intellectual property theft has filled the TV screens.  While the corporate CEOs want the government to protect their interests, these very same CEOs do not want their corporations to be taxed to support the costs of protection.  It is time for the American people to tell these selfish individuals that they cannot have it both ways.  They have higher profits, higher compensation for their executives and yet they still continue to ship jobs out of the U.S. all the while asking to pay lower federal taxes.  This is bullshit!