[1-6]

I wonder if tax returns of corporations could be made public data.

[randomtoast]

It could but then it would show that the effective tax was not 30% but 3% and there is a strong lobby in Washington against that.

[loeg]

You think public companies are just lying in their audited financial statements?

[randomtoast]

No, I think both of the following statements can be true at the same time:

1. The audited financial statement meets all requirements and is accurate according to the relevant definitions, stating that the effective federal tax rate is 30%.

2. They pay an effective federal tax rate of 3%.

[loeg]

I don't think those statements can be true at the same time, without significant qualifications on (2) in a way that make it meaningless. Certainly not the reasonable straightforward reading of the phrase.

[randomtoast]

Maybe you are right, but maybe the significant qualifications are on (1) in a way that make it meaningless.

There is a reason why large companies have entire departments dedicated to identifying and utilizing every available national and international tax loophole, all while working to maintain a positive public image.

[loeg]

> maybe the significant qualifications are on (1) in a way that make it meaningless.

I don't agree with this. Are you willing to suggest any specific qualifications you take issue with, so the rest of us can consider them?

[JohnTHaller]

Companies use different numbers for different things for maximum advantage. The president of the United States does so routinely in his business dealings. One set of numbers when getting insurance and another when getting a loan.