Top Corporate Tax Dodgers Thought They Deserved a Break Today
On the Ides of April, you know you want to minimize the amount you pay in taxes. So why not take lessons from the masters: big corporations. Giant companies have become expert in cutting the amount of money they owe. Just look at the statistics.
According to a 2008 Government Accountability Office report, nearly two-thirds of corporations pay no federal income tax. Yup, none, whether based in the U.S. or overseas. In fact, according to the Tax Policy Center, corporate income tax as a share of GDP has continued to sharply decline since 1950 (click graph to enlarge):
How can they get away with it? By hiring fleets of accountants, lawyers, and lobbyists whose raison d'être is to find ways to bend the tax codes to the corporate will. Or, when they run out of loopholes, they push lawmakers into writing new ones. So today, we salute the masters of tax avoidance with a gallery of some of the best dodgers in the business. Careful if you walk by their headquarters, as you don't want to suddenly get run over.
6 Top Corporate Tax Scoundrels
Image: stock.xchng user YM, site standard license.
Erik Sherman is a widely published writer and editor who also does select ghosting and corporate work. The views expressed in this column belong to Sherman and do not represent the views of CBS Interactive. Follow him on Twitter at @ErikSherman or on Facebook.
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