I will say that 39% is way too much, but on the other hand, what was the effective rate paid by GE last year, about zero.
If there has to be a corporate income tax, maybe it should be 1 to 5 percent on the gross income instead of 39% on the net?
Corporations don’t pay taxes.
Their customers do................
the problem is that the tax code is huge and there are loopholes. There should be a simple flat tax, with no concessions etc., just a two-pager. The amount of money and time spent on poring over the IRS rules is crazy.