Carnival Corporate Tax- Good for us bad for U.S.?

[gargoyle999]

This article in he NY Times says Carnival has only had to pay 1.1% of the $11.3 billion in profits it has had over the last 5 years in federal, state, local and foreign taxes.

 

http://www.nytimes.com/2011/02/02/business/economy/02leonhardt.html?scp=1&sq=paradox%20of%20taxes&st=Search

 

Guess it helps to keep my cruise rate low!

 

Maybe those drink prices really are too high! :p

[matt082600]

Interesting article to say the least.

[Frank12]

As they say, "the rich keep getting richer!"

[LHP]

The bottom line is that corporations have never paid taxes....they simply pass any "tax" onto the consumer.....so ultimately it is the consumer that pays....

[PlanoTim]

Pre-tax income: $11,250 million

Taxes paid: $126 million

Tax rate: 1.12%

 

Startling numbers... But they're certainly not alone (http://www.businessinsider.com/companies-pay-lowest-tax-loopholes-2011-2?slop=1)