At least 55 of the largest companies in the US paid NO federal taxes last year

 


The system is rigged for the wealthy and has been for a long time. There is no solution until we overthrow the corporate two-party system:

Dozens of America's largest companies paid no federal taxes last year despite making billions in revenue.

In 2017, then-President Donald Trump signed a new bill law that slashed the corporate tax rate from 35 percent to 21 percent.

This tax cut, in addition to legal deductions and exemptions, have resulted in companies paying $0 in taxes. 

A total of 55 companies were named in the report, done by the Institute on Taxation and Economic Policy (ITEP), representing industries such as telecommunications, utilities and computers.

A further analysis found that 26 of those companies, including FedEx and Nike, have paid no federal income tax for at least three years after the Trump tax cuts.

It comes as President Joe Biden currently proposes raising the corporate tax rate up to 28 percent. 

 


 

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