Largest US companies paying no taxes? « Hot Air: "This is a topic which Ed and I have debated on these pages in years past, though it wasn’t that heated of an argument since we tend to agree on a number of relevant points. First of all, there is the question of whether or not some of these companies really pay no taxes. One of the first responses from the companies in question, frequently cited by conservative supporters, is that of course they pay taxes! And they provide documents proving they do. But what’s under discussion is the effective tax rate as measured against profits. If your profitable company sends in some tax payments, but later get refunds and adjustments equal or greater to the amount you paid in during final filing and revisions, you didn’t pay any taxes. It’s really that simple."
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