I don't have any idea how much of Cody Willard's above comment represents hyperbole or exaggerationQuite a bit, something approach 100%.http://www.thefiscaltimes.com/Articles/2011/02/09/10-Big-Cor...Those ‘expenditures’ will cost the U.S. government $628.6 billion over the next five years, according to a 2010 report from the Tax Foundation. With advice from the Urban Institute’s Eric Toder, one of the country’s foremost authorities on corporate tax policy, we assembled the 10 most costly corporate tax loopholes and who benefits from them.-------Note, such so-called loopholes include such things as a progressive tax code that taxes the first $50,000 less than the next amounts over that - just like the personal income tax rate. It is people like the author above that benefits the most from such a "loophole"More:http://en.wikipedia.org/wiki/Corporate_tax_in_the_United_Sta...Largest Tax Deductions, Credits, and Deferralsfor Corporations 2005-2009 Total Amount(2005-2009)(Billions of dollars) Depreciation of equipment in excess of alternative depreciation system 71.3 Exclusion of interest on public purpose state and local government debt 38.3 Inventory property sales source rule exception 30.9 Expensing of research and experimental expenditures 28.5 Deferral of active income of controlled foreign corporations 25.8 Reduced rates for first $10,000,000 of corporate taxable income 23.7 Deduction for income attributable to domestic production activities 19.8 Tax credit for low-income housing 17.5 Exclusion of investment income on life insurance and annuity contracts 12.8 Tax credit for qualified research expenditures 10.7 Total - $278 billion.Not sure what any of this has to do with macro investing.
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