Logo

Guess What? A Quarter of All Profitable Corporations are Paying Zero Federal Taxes

Post By RelatedRelated Post

sanders1

 

We pretend that the rich are already paying something to help our nation out of its economic crisis, but that’s not always the point. There are large corporations earning billions of dollars, who are paying nothing to stabilize the economy.  As a result, we are in the middle of a massive economic crisis with no ending in sight.

During his Brunch With Bernie segment on Thom Harmann’s radio show, Sen. Bernie Sanders said,

Mitch McConnell was on the floor of the Senate saying the revenue discussion is over. Well, not for me. The truth of the matter is that right now you have one out of four profitable corporations in America paying zero in federal taxes. The percentage of revenue that we get compared to GDP today in corporate taxes is much much lower than it used to be. As I mentioned many times, we’re losing one hundred billion dollars a year from corporations and wealthy individuals who stash their money in the Cayman Islands and other tax havens. We have just enormous loopholes that corporations and wealthy people continue to take advantage of.

So where we are at Tom, right now is a huge and very very significant philosophical debate. And that is whether or not we cut programs that working families and lower income people desperately depend upon, or whether we ask the wealthiest people and largest corporations all of whom are doing very very well to start paying their fair share of taxes. And I would remind every listener, and this is not talked about too much in Congress or certainly not in the media, that the United States not only has the most unequal distribution of wealth and income of any major country on Earth. But also it is as bad today as it was, it is worse today than at any time since the late 1920s. Please remember that the top one percent in America owns forty two percent of the wealth. The bottom sixty percent own 2.3%

 

READ MORE

 

Comments

comments

Powered by Facebook Comments

james

Leave a Comment

Email (will not be published)