Oct 25, 2004
The latest study by the California Budget Project has found that over half of the corporations that reported profits in 2001 paid no state income taxes. And 46 of those profitable companies had sales of over one billion dollars.
Very conveniently for these companies, state officials are not allowed to divulge which of them did not pay taxes. But it is assumed that the list includes Walt Disney, Fluor (engineering and construction with lots of U.S. government contracts in Iraq), Computer Sciences, Health Net (health insurance) and Ingram Micro Computer – since they all paid no federal taxes over the last several years.
Politicians and businessmen assert over and over again that California is a high-tax state – which is supposed to be what is driving all those companies out of California, taking their jobs with them.
What a bunch of lies – lies that are used to justify cutting corporate taxes further, providing still more loopholes so still more companies, especially the big ones, will pay no taxes at all.
And politicians from every state in the country pick our pockets to give out tax breaks such as these.