The AP carried a story today and began like this: "Unlike the rest of us, most US corporations and foreign corporations doing business in the United States pay no federal income tax, according to a new report from Congress." ---------------------------------------------------- First, it is a fact that approximately 40% of all individuals pay no federal income tax, as has been pointed out many, many times, if one is only open to hearing it. So much for "unlike the rest of us". Secondly, and it was given a brief mention in the article, according to a tax expert at the libertarian Cato Institute, almost half of all business income is produced by llc and sub s corporations whereby the tax consequences flow through to individuals, and is reported on their returns. So to falsely imply that corporations are getting away with murder and not paying their fair share and all the rest, when presented with the facts, is just so despicably dishonest that, well, one can only hope that the average reader will have learned to discount anything the AP has to say on a subject. I'm done. Thank you.
Great points. The AP is a joke, but then so is the rest of the mainstream media. How funny is it that the National Enquirer is more credible than the NY Times or LA Times?
Media with few exceptions are nothing more than PR outlets for Obama and the Democrats... ignore it all, your life as a trader will get better, and never pay for a liberal rag of any kind, it just encourages them