Its Tax Holiday for Corporations Redux

I commented on the report prior to its release here in these e-pages.  And everyone's pal Atta J. Turk below commented on this as well.  But the numbers are even worse then I thought two weeks ago...

At least two-thirds of American corporations paid no federal income taxes between 1998 and 2005, according to a report from the GAO -- those raving radicals in the Government Accountability Office. 

One has to wonder why the NeoCons have not dismantled the  GAO.  They cannot be happy with most of the reports on the war in Iraq let alone the recent essays on the economy.

In this highly expected, yet delayed report we learn that about 68 percent of foreign companies doing business in the U.S. avoided corporate taxes as well.

"It's shameful that so many corporations make big profits and pay nothing to support our country," said Sen. Byron Dorgan, D-N.D., who asked for the GAO study with Sen. Carl Levin, D-Mich.  

Shameful?  This is far and away more than shameful!  This is a damn the gods and turn the politicians into pillars of something or other!

And another concern - What is the reasoning for delaying this report?  Is Wall Street worried about what Dick and Jane American would do?  And where are the debates on how to fix this?  I want to know what is going to be done about this!  Don't you?

Does this mean we all can get tax holidays?  Because I am game for that.  And check out the polls when you read the article... most of us are not surprised and want the laws changed.  Will any candidate do something about this?  Anybody want to take a crack at making the tax code fair?