Most companies in US avoid federal income taxes

[Masherbrum]

"WASHINGTON (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 in the U.S. avoided corporate taxes over the same period.

Collectively, the companies reported trillions of dollars in sales, according to GAO's estimate."

Ok.
Whats the deal with this?
Somehow I get the feeling this is being spun.
I figure one of you brainiacs should be able to better explain it.

Our Govt. doesn't buy into Social Security either. 

[lyric1]

There called accountants & lawyers. Watched a documentary some years ago about a legal scheme where corporations invested in a sewer system that was built by the ancient Romans & was still functioning. Because they took the money off shore to invest it was written off as a loss & did not have to pay tax.

This where I watched this. http://www.pbs.org/wgbh/pages/frontline/shows/tax/schemes/germany.html

[Hangtime]

Ain't that the truth!!  Kinda like guilty until proven innocent.

More like "innocent until investigated"