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

  • 📰 commondreams
  • ⏱ Reading Time:
  • 41 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 51%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

'Corporations are looting America.'

"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.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.

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.

Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 530. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

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!
Källa: CBSNews - 🏆 87. / 68 Läs mer »