|
17d7c09
|
In the 1960s, the corporate tax brought in about 33% of U.S. tax revenues. Today, the same tax provides less than 9% of revenues; that means individual taxpayers have to take up the slack and pay more.
|
|
|
T.R. Reid |
|
2491880
|
By the mid-1980s, the tax code allowed depletion or depreciation allowances that cut taxes for cement companies, Christmas tree farms, apple orchards, gravel pits, railroad cars, rubber importers, cattle growers, and many, many more. There was even a depreciation allowance for human beings; professional sports teams were allowed to write off their players as "depreciable assets" as they slowed down with age."
|
|
|
T.R. Reid |
|
3876152
|
What had been the Internal Revenue Code of 1954 became the Internal Revenue Code of 1986, which it still is today.
|
|
|
T.R. Reid |
|
4fcbe2b
|
By routing its manufacturing through a tiny factory in Puerto Rico, Microsoft saved over $4.5 billion in taxes on goods sold in the United States" over a three-year period."
|
|
|
T.R. Reid |