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Corps. / Income Tax Evasion #229804

CBS Evening News for Wednesday, Aug 01, 1973
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(Studio) Democratic Congress Charles Vanik charges that growing breed of corporation is becoming a freeloader. Vanik releases tax payment reports for largest companies
REPORTER: Roger Mudd

(DC) Claims 5 corps. with more than $270 million income to pay no fed. income tax for 1972. 6 other corps. with $468 million income won't pay taxes and will receive $7 million in tax credit. [VANIK - charges average employee for large company pays more taxes than company he works for. More and more corps. pay little or no income tax.] Corps. cited for freeloading are given. ITT (International Telephone and Telegraph Corporation) and McDonnell Douglas deny Vanik's charges.
REPORTER: Phil Jones

Jones, Phil;
Mudd, Roger

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