Corporations in the United States of America pay remarkably few taxes. In fact, many corporations, having set up paper offshore bank accounts in places like the Bahamas, don’t pay any taxes at all.
What is the 112th Congress doing to confront this economic problem, which contributes to the growing federal budget deficit?
Yesterday, there was only one new piece of legislation introduced in the U.S. House of Representatives. It was H.R. 937, from U.S. Representative Tim Scott, legislation that addresses the problem of low corporate taxes… by seeking to make them even lower.