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Democrats pushing slew of tax hikes to fund massive spending plan
#32
https://itep.org/55-profitable-corporati...orate-tax/

I have a difficult time understanding how anyone believes that this is right or moral, but as long as they continue to line the politician's pockets with cash, the gap between the haves and the have nots continues to widen,

At least 55 of the largest corporations in America paid no federal corporate income taxes in their most recent fiscal year despite enjoying substantial pretax profits in the United States. This continues a decades-long trend of corporate tax avoidance by the biggest U.S. corporations, and it appears to be the product of long-standing tax breaks preserved or expanded by the 2017 Tax Cuts and Jobs Act (TCJA) as well as the CARES Act tax breaks enacted in the spring of 2020.I

Food conglomerate [b]Archer Daniels Midland[/b] enjoyed $438 million of U.S. pretax income last year and received a federal tax rebate of $164 million.
The delivery giant [b]FedEx[/b] zeroed out its federal income tax on $1.2 billion of U.S. pretax income in 2020 and received a rebate of $230 million.
The shoe manufacturer [b]Nike[/b] didn’t pay a dime of federal income tax on almost $2.9 billion of U.S. pretax income last year, instead enjoying a $109 million tax rebate.
#33
(09-09-2021, 10:17 PM)The Outsider Wrote: https://itep.org/55-profitable-corporati...orate-tax/

I have a difficult time understanding how anyone believes that this is right or moral, but as long as they continue to line the politician's pockets with cash, the gap between the haves and the have nots continues to widen,

At least 55 of the largest corporations in America paid no federal corporate income taxes in their most recent fiscal year despite enjoying substantial pretax profits in the United States. This continues a decades-long trend of corporate tax avoidance by the biggest U.S. corporations, and it appears to be the product of long-standing tax breaks preserved or expanded by the 2017 Tax Cuts and Jobs Act (TCJA) as well as the CARES Act tax breaks enacted in the spring of 2020.I

Food conglomerate [b]Archer Daniels Midland[/b] enjoyed $438 million of U.S. pretax income last year and received a federal tax rebate of $164 million.
The delivery giant [b]FedEx[/b] zeroed out its federal income tax on $1.2 billion of U.S. pretax income in 2020 and received a rebate of $230 million.
The shoe manufacturer [b]Nike[/b] didn’t pay a dime of federal income tax on almost $2.9 billion of U.S. pretax income last year, instead enjoying a $109 million tax rebate.
I am in favor of eliminating corporate income taxes entirely, which would take away the leverage that politicians have over them. I have a difficult time understanding why people blame corporations instead of the politicians who shake them down for campaign donations and provide loopholes in the tax code in return for their "cooperation." Politicians demonize big corporations while finding ways to take their money. Small businesses that cannot afford to buy a place at the table are the big losers, along with the people who fall for the scam of blaming corporations when their ire should be directed at the people for whom they vote.

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