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Tax law and suspension

…to the US. The House already has a bill out to undo (though only prospectively) the Treasury override of Congressional law, sponsored by Lloyd Doggett, the nemesis of the corporate

In DeLay’s Defense: Smearing the Prosecutor

…indicted eight corporations in connection with the DeLay investigation. All were charged with making illegal contributions (Texas law forbids corporate giving to political campaigns). Since then, however, Earle has agreed…

Fact Checking Kudlow’s Latest

…Published by the Internal Revenue Service), which reconciles to NIPA table 6.16 (corporate profits). Of course, corporate profits are only a subset of total profits. A more comprehensive measure would…

…income. At the end of the day, $13m in pre-tax corporate profits becomes $7.5m of after-tax profits in shareholders’ pockets. This is an overall tax rate of (13-7.5)/13=.423, a 42.3%…