Apr 162010
From the Wall Street Journal:
“One item that doesn’t fall into the it-could-be-worse department … is the U.S. corporate income tax. It’s already about as bad as can be. This year, American businesses may spend 89 cents preparing their taxes for every dollar they pay in taxes.
In a new estimate, David Keating of the National Taxpayers Union estimates that the cost of compliance with the corporate tax is $159.4 billion—or 89% of expected tax collections for fiscal 2009, and 54% for 2008.”
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