It’s tax day and as you write your check to the IRS this year, consider this: More than 60 percent of U.S. corporations didn’t pay any federal income tax in the late 1990s. Most of them never pay anywhere near the stated tax rate. Nobody likes paying taxes, so why is corporate America any different from the rest of us?
But critics charge that a growing number of shelters, loopholes, and tax breaks for business seems to have created such an opportunity for corporate tax avoidance, that now everyone else is picking up the tax tab. Many business owners and legislators argue that what’s good for a company’s bottom line is good for the economy. And whatever’s good for the economy is good for all taxpayers.
Guests:
Hedrick Smith, journalist
Bruce Josten, U.S. Chamber of Commerce
Byron Dorgan, United States Senator (D-ND)
Kevin Brady, United States Congressman (R-TX).