Topic of taxes? Too taxing...on the brains of Geithner and his corporate buddies

Geithner: cut corporate tax rate substantially | Reuters: "Treasury Secretary Timothy Geithner said on Tuesday that the United States needs to cut the corporate tax rate substantially with a goal in the high 20 percent range, down from the current 35 percent

A day after the White House unveiled a budget that seeks to trim the country's massive deficit, Geithner reiterated that the Obama administration and Congress had to work together to overhaul the tax code, starting with corporate taxes."

U.S. Business Has High Tax Rates but Pays Less - NYTimes.com: "But by taking advantage of myriad breaks and loopholes that other countries generally do not offer, United States corporations pay only slightly more on average than their counterparts in other industrial countries. And some American corporations use aggressive strategies to pay less — often far less — than their competitors abroad and at home. A Government Accountability Office study released in 2008 found that 55 percent of United States companies paid no federal income taxes during at least one year in a seven-year period it studied."