Corporations Paid 11.3% Tax Rate Last Year

[applegrove]

Corporations Paid 11.3% Tax Rate Last Year

December 16, 2019 at 2:02 pm EST By Taegan Goddard 52 Comments

https://politicalwire.com/2019/12/16/corporations-paid-11-3-tax-rate-last-year/

"SNIP.....

Washington Post: “The 2017 tax law lowered the U.S. corporate tax rate from 35% to 21%, but in practice large companies often pay far less than that due to deductions, tax breaks and other loopholes.”

“In the first year of the law, the actual amount corporations paid in federal taxes on their incomes — their so-called ‘effective rate’ — was 11.3% on average, possibly its lowest level in more than three decades… The report also found that 91 corporations in the Fortune 500, many worth billions of dollars, paid no federal taxes last year.”

......SNIP"

[Newest Reality]

1. How do you make up for...

How do you make up for the loss of revenue there? Profits soar, taxes are low to nil.

Well, you cut SNAP for sure. There must be other programs for people who are not in the membership club of the BOOM, that can be slashed or eliminated entirely, right? You have to tighten the belt somewhere and lower tax revenue is a great reason to squeeze those pesky, useless eaters until they pop.

I would like to propose a Soylent Green Act. Basically, we could find a way to render the poor in vats, make green wafers and feed them to...wait for it...the poor! Think of the savings and its both recycling and green! You just have to think outside of the empathy or compassion. Those who have deserve more, it's written on the other side of the tablets the Ten Commandments were on.

[Farmer-Rick]

2. And the average American paid 24%. May the filthy rich choke on their corporate giveaways.

[Blue_true]

3. I am ok with companies deducting the cost of investing in equipment, workers and

worker education. I would need to see the minute details of what they were deducting. Unfortunately, individuals and small proprietors are not treated like C-corps when it comes to allowable deductions.

[appalachiablue]

4. K/R