Among lowest taxpayers were companies whose CEOs have become high-profile advocates for corporate social responsibility
Some of the US’s most profitable corporations, including General Motors, Citigroup and Netflix, have slashed their tax bills in the years since the passage of the Trump tax cuts, with nearly a quarter paying rates in the single digits and 23 paying nothing, a report has found.
The 2017 law cut the top corporate income tax rate from 35% to 21%. But the new assessment of corporate tax avoidance, published on Thursday by the non-profit Institute on Taxation and Economic Policy (Itep), found that during the first five years the law was in effect, many profitable public companies in the US paid a far lower rate in practice.
That cannot be right, because we still had to bail them out in 2020. Surely Repubs wouldn’t give out massive tax cuts to businesses and then also massive handouts to businesses when they are the party of self-sufficiency and accountability? If both those things were true, one must conclude that Repubs are all deceitful and without integrity.
You figured out the grift: rob the tax coffers, while paying as little as possible yourself. It’s always been the Republican plan, kicked into full gear by Reagan. And the way they keep getting away with it is to keep the peasants fighting amongst themselves over social issues: race, sexuality, religion, etc. They’re thieves, always have been.
And they’re winning. The same strategy has been successful since the beginning of recorded history.
Self-sufficiency for thee.
Gov’t monies for me.