US: Most companies paid no federal income taxes

Report says most corporations pay no federal income taxes; lawmakers blame loopholesWASHINGTON (AP) - Two-thirds of U.S. corporations paid no federal income taxes between 1998 and 2005, according to a new report from Congress.The study by the Government Accountability Office, expected to be released Tuesday, said about 68 percent of foreign companies doing business [...] continue reading the breaking news