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Originally Posted by RIJIMMY
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The website doesn't really add anything new to the conversation. It does not show actual percentage paid by a particular corporation after tax exemptions and deductions. For example, just because a person's federal tax rate is 28%, that doesn't mean they pay 28% straight up. That number is affected by child tax credits, mortgage deductions, college interest deductions etc. 28% is the starting point. Take 10 people and they all end up at a different %. For corportations 35% (39 in the data on the website) is the start. Many corporations have been found to pay as low as 5-10% for fed, not 35% even though they are in that bracket. That is why it isn't clear cut what the 35% (39) tax rate means in real numbers. That is why those websites are not really useful. Add state and local rates and it gets more confusing, especially since there are exemptions and deductions on every level.