Despite Soaring Profits, 19 Fortune 100 Companies Paid Little-to-No Taxes in 2021

"Corporations are looting America," said former Labor Secretary Robert Reich in response to CAP's report.

After earning $29.6 billion in 2021, AT&T reported a tax refund of $1.2 billion. Charter Communications reported a refund of $12 million after earning $6 billion, AIG will receive $216 million from the federal government despite $9.8 billion in earnings, and Dow will receive $46 million after earning $1.5 billion.

Of the Fortune 100 companies that actually paid taxes in CAP's analysis, UPS paid the highest tax rate at just 9.9%—still well below the tax rate established by President Donald Trump's so-called Tax Cuts and Jobs Act of 2017 . General Motors paid the lowest tax rate, paying 0.2% in federal taxes on $9.4 billion in earnings.Large companies outside the Fortune 100 also managed to avoid paying taxes despite earning billions in 2021, according to the report.

Check out 'Fair Tax' or collect ALL tax at the cash register. Stagger the rate so basic food items would have the lowest tax and luxury items the highest.

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

19 of America's biggest companies paid little — or zero — income tax: 'The tax code is broken''Our corporate tax code is broken when some of the biggest and most profitable companies in the country are paying little or no taxes,' Seth Hanlon, a senior fellow at CAP and a co-author of the report, said. Broken by design by politicians. Their most profitable years in Brandon's first? Bull!
Источник: CBSNews - 🏆 87. / 68 Прочитайте больше »