Twenty-five years ago, President Ronald Reagan, horrified by corporate tax dodging, closed corporate tax loopholes with the Tax Reform Act of 1986. Since then, things have gone the other way, and many who claim to be Reagan’s disciples are most to blame.
A detailed report released today by Citizens for Tax Justice shows evidence that 67 companies paid effective three-year tax rates of less than 10 percent (an average effective tax rate of 0) and 30 companies paid less than zero percent over the three years. The list includes companies such as General Electric, DuPont and Verizon.
According to the report, “2009 was a particularly banner year for non-payment of taxes. In that year, 49 companies paid zero or less in federal income taxes.â€
http://www.ctj.org/corporatetaxdodgers/CorporateTaxDodgersReport.pdf
