-by George Goehl, National People's Action
Tax fairness has become a centerpiece of national debate, from the president's reelection to the recent deal surrounding the so-called fiscal cliff. In Illinois, taxpayers want to make sure corporations in the State are paying their fair share as well. According to the Internal Revenue Service, the federal corporate tax rate from 1952-63 -- a period of prosperity and a significant rise in the middle class -- was 52 percent. Today it's 35 percent. By working loopholes and exceptions many corporations are able to reduce their effective tax rate to as low as zero. As it stands corporations doing business in Illinois do not have to disclose to the public what taxes, if any, they contribute to the state.