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How Come You Pay More in Taxes Than a Trillion Dollar Corporation Does?

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 How come most of the wealthiest corporations, banks, and funds in the economy pay less taxes than you do? The evidence couldn’t be more stark. American corporations pay the lowest effective tax rates in the world — and the more powerful they are, like Amazon, the less tax they pay, to the absurd point that by now, the most powerful corporations pay negative tax rates, which means they receive more than they’ll ever give. There’s an obvious reason that companies like Amazon don’t have to pay taxes. They’re the beneficiaries of loopholes so large you could whole planets in them. In Amazon’s case, these are deductions for R&D, property, and stock options. We’ll come back to all that. A sane society would call this money laundering by any other name. But we don’t. So why do those loopholes exist? How did we get here — to a place where you pay more taxes than a trillion dollar company?


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Susan Lee Schwartz Social Media Pages: Facebook page url on login Profile not filled in       Twitter page url on login Profile not filled in       Linkedin page url on login Profile not filled in       Instagram page url on login Profile not filled in

I began teaching in 1963,; Ba and BS in Education -Brooklyn College. I have the equivalent of 2 additional Master's, mainly in Literacy Studies and Graphic Design. I was the only seventh grade teacher of English from 1990 -1999 at East Side (more...)
 

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