Economy

Taxed Enough Already!

Or maybe not.

The U.S. actually has the second lowest corporate income taxes among first-world industrialized nations.

If you listen to the Republicans, you may believe the United States has the highest corporate income taxes in the world.

That may actually be true if it weren't for the countless number of loopholes corporations use to avoid paying the majority of their taxes or, in some cases, pay no taxes at all. And according to Republican tax-cut magician Paul Ryan, the only way they would agree to closing some of those loopholes is if they are offset by tax-cuts in other areas. This is what he calls being "revenue neutral."