Here they are: The Durbin plan. Modifications of foreign tax credit rules applicable to major integrated oil companies which are dual capacity taxpayers. U.S. taxpayers are taxed on their income worldwide, but are entitled to a dollar-for-dollar tax credit for any income taxes paid to a foreign government. U.S. oil and gas companies have been Read the full article…
It’s not possible to tell what any US corporation pays in US income taxes. They are not required to publish their tax returns and the government can’t release them without permission. You can’t really determine the US income tax from published data. It’s too complex. The GE tax return for 2007 was reportedly 24,000 pages. Read the full article…
Don’t you just love those new light bulbs? States like South Carolina are trying to pass legislation allowing that state to avoid the federal mandate to buy only those bulbs beginning next year. Why? The truth of the matter is simply, it’s a bad idea dreamed up by an incompetent government. The same government that Read the full article…
