On Tuesday, I saw a headline at the New York Times Web site, Study tallies corporations not paying income tax. This type of story is right up our ally since our readers know that corporations don’t pay taxes; people do. I didn’t get to research the story on Tuesday, but Power Line just provided a kick in the head tonight and reminded me about it.
It turns out that Lynnley Browning and editors at the Times can’t understand basic logic. They figured since two out of three corporations in the study did not pay any taxes, they might as well take the total gross receipts of two-thirds of the companies and assume that 35 percent of that should be tax going to the feds.
They calculated that the government was being cheated out of $875 billion. Idiots. Read more