Nominal corporate income tax rate
What companies actually paid in fiscal 2011
Much of the tax debate has been about whether the 1% pay their fair share. But corporations paid just 12.1% of their domestic income in federal taxes in Washington's most recent fiscal year--the lowest rate in at least 40 years. Companies are supposed to be taxed at 35%. Why are they paying so little?
In part to stimulate the economy. Uncle Sam gave companies the right to write off 100% of the purchase price of new equipment in 2010 and 2011. That has direct benefits of spurring...