Study says most corporations pay no U.S. income taxes
(Reuters) - Most U.S. and foreign corporations doing business in the United States avoid paying any federal income taxes, despite trillions of dollars worth of sales, a government study released on Tuesday said.
Note the conflation of sales and income (a pet peeve of my Dad's, as I recall.) Reading the article, we see that in the 8-year period studied, 57% of corporations paid no income taxes in at least one year. First of all, how does that get translated into "most"? Wouldn't "most" mean at least 50% each year?
But, more important, couldn't this mean that 57% of corporations don't make any money in 1 or more of 8 years? Note that 57%/8 = 7%. Is it reasonable to think that about 7% of corporations make no money in a given year? Seems reasonable to me.
Of course the article doesn't give us any details. It's just an anti-corporate hit piece, and giving details would likely spoil the fun.
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