Analysis: Obama's move to cut corporate taxes could divide business

02/7/2011 | Reuters

U.S. President Barack Obama's plan to cut corporate taxes and pay for the lost revenue by wiping out loopholes and deductions that benefit only a few companies threatens to divide American business, according to Reuters. The basic rate is 35%, but some of the biggest corporations have used exemptions and tax credits to reduce their effective tax rate to less than 20%. Those companies don't want to give up their tax breaks.

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