Special Report No. 1
Executive Summary
With federal deficits hovering around $150 billion, the government will continue its drive for more revenues. Corporations are often targeted because they are said to be under-taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs of general government services, goods, and activities.
ed. Despite statistical evidence to the contrary, this recurring theme seems to have a life of its own and always resurfaces when more revenues are required for increased spending. In fact, corporations carry a heavy tax burden and provide a large and growing percentage of the total tax revenue collected by the federal government.