Power Line reports on the NYT’s vast ignorance regarding the basics involved in the simplest of corporate income tax calculations.
In theory, a company pays 35% of its net income to the feds, not its gross receipts. That reporters and editors at the New York Times should be ignorant of this basic fact is shocking. How in the world can these people purport to instruct the rest of us on economic matters, when they lack the most fundamental understanding of how our tax system works?
Are taxes on revenue or income? This sounds like a mistake our local paper, which worships the New York Times, would make. Beware Camera editors, don’t blindly follow them over a cliff.
