Dear Sprite518,
I don't know that the Economist asserted that on average, American corporations send off 11% of their total revenues to the IRS in the form of federal corporate income taxes.
If you show a quote that asserts that, I'll be happy to disagree with it. And I'll post data to prove it.
As well, as far as I know, no one from the Economist is here on this thread. Point out the poster from the Economist, and I'll ask him if that is his claim.
However, pigdog has made the claim through his off-base table.
So, I'm challenging pigdog to back it up.
I don't think he'll accept the challenge.
Perhaps during the delay between my initial offering of the challenge and his initial response, he did a little research (it's easy to get the numbers on the Internet) and realized that his claim is unsupportable.
Do you want to take up the challenge?
Find 20 companies in the Fortune 500 that send off 11% of their total annual revenues in the form of federal corporate income taxes.
I'll find 20 that send 5% or less.
If we both find 20, we both keep posting them until one of us runs out.
By that, we'll get some handle on what sort of savings can be achieved, at least on a single level, by eliminating the federal corporate income tax.
And we'll see what sort of numbers are realistic to put into one these "cascading tax" tables, and what accumulated tax numbers result.
sitetest