"In the world which is upside down, the true is a moment of the false."
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| rock and roll means fuck "In the world which is upside down, the true is a moment of the false." |
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Thursday, April 08, 2004 this is fucked up, yo a couple of questions for ya, dear reader... have ya done your taxes yet? you've got about a week or so if you haven't. i know they're a pain in the ass and all and, unless you're way loaded and get tons of dividend income, all this talk over the past few years about these massive tax cuts seems kinda silly. i don't know about you, but my taxes haven't changed much all that much. in fact, comparing this year to last, i'm paying more in federal income taxes this year on much the same income. thanks for lookin' out for folks like me, georgie boy! one more question, you remember the late 90s, right? surely you recall all that peace and prosperity and such. maybe you remember the backstreet boys, some chick named monica or that kooky internet thingy. maybe you also recollect one of the largest economic expansions in the history of the world. were you around for all that jive? i'm sure you were. dig this: Many Firms Avoided Taxes in Boom WASHINGTON - More than 60% of U.S. corporations didn't pay any federal taxes for 1996 through 2000, years when the economy boomed and corporate profits soared, Tuesday's Wall Street Journal reported, citing the investigative arm of Congress. The disclosures from the General Accounting Office are certain to fuel the debate over corporate tax payments in the presidential campaign. Corporate tax receipts have shrunk markedly as a share of overall federal revenue in recent years, and were particularly depressed when the economy soured. By 2003, they had fallen to just 7.4% of overall federal receipts, the lowest rate since 1983, and the second-lowest rate since 1934, federal budget officials say. The GAO analysis of Internal Revenue Service data comes as tax avoidance by both U.S. and foreign companies also is drawing increased scrutiny from the IRS and Congress. But more so than similar previous reports, the analysis suggests that dodging taxes, both legally and otherwise, has become deeply rooted in U.S. corporate culture. The analysis found that even more foreign-owned companies doing business in the U.S. -- about 70% of them -- reported that they didn't owe any U.S. federal taxes during the late 1990s. really. you read that correctly. during that huge economic boom that seems further and further away every day now, 60% of american corporations paid no federal taxes whatsoever and neither did 70% of foreign corporations doing business in our country. nothing. zip. nada. not one effin' dime. so this year, as you are preparing your tax return, or as you wistfully recall their preparation from a few weeks ago, consider this: even during the fucking shitty economic times in which we currently find ourselves floundering about in and even if your total liability to the feds was 10 freakin' bucks, that's 10 more fucking dollars than a majority of american corporations paid over a period five years back when our economy was smokin' hot and corporate profits 'soared'. chew on that for a bit, why don't ya. pavement: "brinks job" "..we got the money!... ..we got the money! " posted by downtown | 2:45 AM |
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Cost of the War in Iraq
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