Thoreau72
DP Veteran
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- Sep 26, 2012
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Small businesses get the same deductions that large corporations get
I don't think that's entirely true. Small businesses do not have the political clout that bigger ones do. Most small businesses (and we must define the term because there are some misleading ones out there) don't have in-house accountants or attorneys.
Johnston claims in his book that while the nominal corporate rate is 35%, the effective rate for most large corporations is much closer to 12%.
Going back about 5 years, I ended up paying more federal tax than did General Electric. There is something wrong with that picture.