We aren't stupid, we're lying. (The Taxonomist).(media coverage of economic policy)(Brief Article)(Statistical Data Included)
American Prospect, The, December, 2001 by McIntyre, Robert S.
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IN A LETTER TO THE WASHINGTON POST ON OCTOBER 29, the Cato Institute's fiscal-policy director, Chris Edwards, wrote to urge the repeal of the corporate minimum tax. His central argument was that three of the companies that would get the biggest rebates, IBM, General Motors, and General Electric, are way overtaxed now. Indeed, he claimed, these companies paid "an enormous $3.4 billion, $1 billion and $5.7 billion, respectively," in federal income taxes last year.
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I immediately wrote to the Post to correct Cato's misstatements. The truth is that IBM paid a mere $191 ...
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