DumFux News is fond of saying the US Corporate Tax Rate is the 2nd highest in the world (35%), getting the rubes to pretend that the debate can just stop there.
Well, the non-rubes among us know that the Tax Rate has no meaning if nobody ever pays at that rate.
So guess what - the 'effective rate' is actually down around 12%. And, the amount of Corp Taxes collected as a percentage of GDP is the lowest it's been since 1972.
So, once again, the "Libruls" were right, and the "Conservatives" have been lying to us.
From the Rupert Street Journal - full piece is behind the pay wall.
hat tip = Democratic Underground
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