Leo Gerard
How Big Corporations Take Your Tax Dollars
Big corporations claim to hate socialism if it means Medicare for All, but they sure as hell love socialism when it’s welfare for them. Sixty profitable corporations paid no federal taxes in 2018, twice the number that typically paid nothing in the years before the 2017 tax breaks took effect. In fact, it’s worse than that. Fifty-seven of these corporations demanded rebates from the government – which means taxpayers like you and me paid them to exist. These are corporations on the dole. Amazon, the online marketplace, made nearly $11 billion last year and instead of paying the current, low 21 percent corporate tax rate on that income, it demanded that taxpayers give it $129 million. Which they did. It wasn’t a rebate since Amazon paid no taxes. It was a big fat, gift withdrawn involuntarily from workers’ pockets, wrapped in a fuzzy, flocked Amazon smiley bag, and deposited directly into corporate coffers. This is perverse wealth transfer, from the poor and middle class to the rich and corporations. And taxpayers didn’t even get Amazon Prime in exchange.
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