At least 60 of the nation’s biggest corporations paid no federal income taxes in 2018 on a collective $79 billion in profits, the Institute on Taxation and Economic Policy (ITEP) reports. I have no figures for 2019, but the numbers haven’t gone down any.
ITEP reported that the following companies paid no federal taxes in 2018: Netflix, Amazon, Chevron, Delta Airlines, Eli Lilly, General Motors, Gannett, Goodyear Tire and Rubber, Halliburton, IBM, Jetblue Airways, Principal Financial, Salesforce.com, US Steel, and Whirlpool. The complete list is at https://itep.org/notadime.
I reported a day ago that our national debt is now bigger than out gross national product. One reason that the well-to-do and corporations pay little to no tax is the $1.5 trillion tax cut of 2017.
Isn’t it time for the American people to do the math and elect a Congress and president who will take steps to correct this appalling situation?
