8 April 2012 0 Comments

Corporatism: The Real World of Corporate Favoritism – Obama’s Favored General Electric Paid 2.3% Tax Rate on $81 Billion of Profits Over Past Ten Years

Oil and gas companies are bashed for their special and not so special tax deductions, meanwhile, one of President “99%” Obama’s favorite corporate has very skilled tax accountants and tax attorneys to maneuver through the incomprehensible labyrinth of the American Tax Code. GE’s Jeffrey Immelt and President Obama – BFFs TaxProfBlog (14, 782,742 visits since […]

2 April 2012 0 Comments

1% of 1%: The Top 400 Adjusted Gross Income Earners

TaxProfblog brings this NYTimes story to our attention: Mitt Romney paid 13.9% federal tax rate Among the 400 Americans with the highest adjusted gross incomes in 2008, 30 of them paid less than 10% and another 101 paid less than 15% The top 400 paid an average of $49 million, or 18.1% of their AGI, […]

10 November 2011 0 Comments

The Rich Pay More: Why? What Did They Do Wrong?

TaxProfBlog 21 July 2008 cites Wall Street Journal article: Share of Income Earned and Share of Income Taxes Paid. There is no clear explanation why the most productive, the most skilled, the most talented who produce goods and provide services we want and need should pay more. Progressive taxation is results in Bigger Government and […]