These companies collectively made billions in profits yet legally owed zero federal income tax in certain years. This isn’t tax fraud — it’s the system working exactly as their lobbyists designed it.
Meanwhile the average American worker has taxes automatically deducted from every single paycheck with no opt-out, no loopholes, no team of accountants finding workarounds.
At what point do we stop calling this a tax “code” and start calling it what it actually is — a two-tier system where the rules are different depending on how much money you already have?
You paid more in federal income taxes than Disney, Tesla, Citigroup, and 12 other major corporations. Let that sink in.
byu/Direct_Dare_9699 ineconomy
Posted by Direct_Dare_9699
3 Comments
Yeah but Citigroup has the burden of charging desperate people 30% interest. They deserve to not pay taxes. /s
I should point out that the data you’re referring to is the provision for income tax on the financial statements, which isn’t the same thing as the income tax a corporation pays. A company can, and often does, report $0 tax expense but pay income tax
Low tax expense is primarily driven by stock compensation, R&D credits, and sales into foreign countries. Which of these are you against?
I can’t speak for the others because I’m ignorant, but didn’t Tesla go YEARS being unprofitable? If imagine they have been utilizing carrying over their losses now. Mix that with R&D and tax incentives