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.

  • WhatAmLemmy@lemmy.world
    link
    fedilink
    arrow-up
    13
    ·
    edit-2
    8 months ago

    The only thing they want is to extract all value that could possibly exist, and horde it all for themselves.

    It’s a perfectly reasonable, totally-not-insane-whatsoever, way to conduct oneself on the only spaceship hospitable to human life, in a mostly-empty universe of extremely limited resources.