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.
Just the lobbyists that spent the most money, and have some of the most money to spend. Pure coincidence I’m sure. Time for legislators to start wearing garb like racecar drivers where you can see who paid them while they vote. Heh can only imagine how busy Trump’s would be, not like he’d follow any rule in case it messed up his makeup. Though not like Trump did much himself, was bought for in the house and Senate anyways, he’ll still take credit for it all of course.