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. 

 


 

Comments

Post a Comment

Popular posts from this blog

Trump supporters discussed how to execute members of Congress prior to Capitol siege

Image
  The evidence is overwhelming that the insurrection on January 6th was planned well in advance. But the architects have not been arrested. We must demand it. The masterminds of the attack on our republic cannot go unpunished: Others argued instead that a guillotine would showcase better symbolism, but lamented over the likely difficulties in transporting such a large blade. The comments are raising serious questions about the intelligence failures of law enforcement in the lead up to the failed insurrection. Although TheDonald.Win is no longer online, cached versions of the comments were collected in a 145-page report by the nonpartisan research group Advance Democracy. Daniel J. Jones, a former FBI analyst and former Senate investigator, told the Post that the report shows just how central of a role the now-defunct forum played in the attack on Jan. 6. “The website, TheDonald, played a far more central role in the January 6th Capitol insurrection than was previously known,” Jones...
Read more

Trump loses bid to have Judge Chutkan recuse herself from his federal trial

Image
 Nice try : D.C. District Judge Tanya Chutkan has denied former President Donald Trump's demand that she recuse herself from overseeing his criminal trial, reported POLITICO's Kyle Cheney on Wednesday. Trump, who is being prosecuted by special counsel Jack Smith for his involvement in plotting to overturn the 2020 presidential election results, based his motion on the fact that Judge Chutkan referenced him at the sentencing of January 6 rioters.  
Read more