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Old 10-10-2012, 08:06   #6
beforeobamabans's Avatar
Join Date: Jan 2009
Location: Crossroads of America
Posts: 5,592
I am aware of a company that does $12 billion per year of sales in the US. Because of a major warranty problem a decade ago, they have not paid one dollar in federal income taxes due to the Loss Carry Forward provision of the tax code. With the LCF consumed, they will begin paying 35% next year. Two extremes, eh? If Romney can eliminate this "loophole" then lower the corporate rate to 25%, that seems a good compromise to me and provides an excellent example of his model generating more income for the Treasury.
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"They that can give up essential liberty to obtain a little temporary safety deserve neither safety nor liberty." Ben Franklin
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