Arizona Daily Sun: Trump corporate tax cut must be paired with reforms

A new study by the Institute on Taxation and Economic Policy, based on the regulatory filings of 258 U.S. Fortune 500 companies, illustrates how the 35 percent tax rate is nominal, not an actual onerous burden, in many industries. The actual rate paid by the companies was 21.2 percent. One-hundred of the firms had at least one year from 2008 to 2015 in which they paid no taxes at all. Over that entire span, 18 companies, including General Electric, Sempra and PG&E, actually got money back from the federal government. In only two sectors — health care and retail — was it normal for effective corporate taxes to be higher than 30 percent. Read more