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Who's paying the taxes?

From Wall Street Journal:

U.S. companies are booking higher profits than ever. But the number crunchers in Washington are puzzling over a phenomenon that has just come into view: Corporate tax receipts as a share of profits are at their lowest level in at least 40 years.
Total corporate federal taxes paid fell to 12.1% of profits earned from activities within the U.S. in fiscal 2011, which ended Sept. 30, according to the Congressional Budget Office. That's the lowest level since at least 1972. And well below the 25.6% companies paid on average from 1987 to 2008.

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And the fat cats keep wondering what all the excitement is about. Occupy this!

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What a world

The amazing low price immediately catches your eye! Then, you notice that this great price is for an all-inclusive. Even better! Well, almost all-inclusive--it doesn't include the $320 in taxes that the fine print tells you about. Still, a great price by any standards, but why such exorbitant taxes? If the airlines and hotels can offer such a wonderful deal, why does the government feel the need to take more than half the total cost of the product/service? Kinda makes you want to shake the livin' crap out of the nearest politician, doesn't it?



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Did you know?

In 1698, Russia's Peter the Great imposed a tax on beards.

Everyone's favourite tax lawyer

Famed tax lawyer, Roni Deutch is asked what other career she might have pursued had she not become a lawyer.