-Caveat Lector-
At 03:57 PM 10/20/00 -0700, Steve Wingate <[EMAIL PROTECTED]>
wrote:
>-Caveat Lector-
>
>Friday October 20 6:35 PM ET
>
>Many Large U.S. Companies Paid No Taxes -- Study
>
>By Kristin Roberts
>
>NEW YORK (Reuters) - Some of the largest U.S. companies paid no
>income tax between 1996 and 1998 despite earning billions of dollars
>during those years, according to a recent study.
>
Why is anyone surprised? This is the inexorable result when the government
buggers with the tax system to give "incentives" (or threats) to taxpayers
(both corporate and individuals) to do things the government's way.
Those corporations that made profits and "paid no taxes" simply redirected
the tax money they would have sent to the government directly to some end
that the government wanted the money to be spent on anyway.
In economic terms, corporations don't really pay taxes, anyway. They are
merely a convenient mechanism for the government to collect tax money which
is ultimately paid by consumers.
DBC
<A HREF="http://www.ctrl.org/">www.ctrl.org</A>
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