Although individual reduction of taxes is often encouraged,

Although individual reduction of taxes is often encouraged,

Although individual reduction of taxes is often encouraged, there is great controversy over corporate reduction of taxes. The media has frequently reported on a national protest campaign that calls out the “Deadbeat Dozen†list, which includes corporations such as General Electric (GE), Wells Fargo, ExxonMobil, BP, and others. These companies have paid little to no taxes over the past few years. For example, in 2010, GE paid no taxes to the U.S. government despite being the worldâ€s largest corporation. Additionally, Wells Fargo, the fourth largest bank in the nation, was able to eliminate any tax liability by writing off losses after the 2009 Wachovia acquisition. Many critics believe that if corporations paid their “fair share†of taxes, then the government would be able to climb its way out of debt. This poses the question: Is it ethical for corporations to try to reduce or eliminate their taxes? Consider the obligations major corporations have to their country/society. Think about whether corporations should have tax shelters offered to them just as individual taxpayers do.

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