NEW YORK TIMES…THE PAPER OF RECORD

Most U.S. Corporations Pay No Income Tax

Two out of every three United States corporations paid no federal income taxes from 1998 through 2005, according to a report released Tuesday by the Government Accountability Office, the investigative arm of Congress … The study covers 1.3 million corporations of all sizes, most of them small, with a collective $2.5 trillion in sales …. At a basic corporate tax rate of 35 percent, all the corporations covered in the study in theory owed $875 billion in federal income taxes.

Really…Is this a new BHO the magnificent tax I have not heard about yet? The NYT thinks that Uncle Sam taxes revenues? Do they really have a business section?

I know your stock is in the toilet and you are laying off employees, but you might want to hold on to a fact checker or two.

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