Discount. The stated corporate tax rate is 39%. The effective rate? 12%
We're nearing the irs filing deadline, which means the tax whiners are in full cry. First up is the Tax Foundation, which annually declares a Tax Freedom Day--the day our national earnings to date will cover our annual tax bill. (Tax Freedom Day 2012 falls on April 17, which is also tax-filing day.) "This year, Americans will pay $2.62 trillion in federal taxes and $1.42 trillion in state-local taxes out of $13.86 trillion in income, for a 29.2% tax bill," said Tax Foundation economist-whiner Will McBride. "That means taxpayers will pay more in taxes in 2012 than they will spend on...
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