Tax avoidance strategies of our riches corporations starve our schools and other vital public services. For decades, profitable companies have been able to avoid corporate taxes. But the list of those paying zero roughly doubled last year as a result of provisions in President Trump’s 2017 tax bill that expanded corporate tax breaks and reduced the tax rate on corporate income. Read a report that 60 Fortune 500 companies paid no federal taxes on $79 billion in corporate income last year. Last year Amazon had an effective tax rate of below zero — receiving a rebate — on income of $10.8 billion. It’s a topic that several presidential candidates, led by Senators Bernie Sanders and Elizabeth Warren, have hammered recently as they travel the campaign trail."
At dianeravitch.net
