TAX CUTS ->DEFICITS->GUT EDUCATION, SOCIAL SECURITY, MEDICARE, ETC
The Trump/Republicans’ long-plan – the one that’s worked so well for almost 40 years – can be expected to continue. Trump/Republicans will use deficit-creating tax […]
Taxes & Budget
ESTATE TAX, PASS THROUGH AND ATM “REFORMS” CREATE DEBT FOR MIDDLE CLASS TO PAY WHILE PADDING TRUMP’S POCKETS
Estate Tax Now: The current law says if you’ll be passing on $5.45 million or less, then your heirs won’t have to file a federal […]
TRUMP/REPUBLICAN TAX PLAN REDUCES PUBLIC RESOURCES, INCREASES CORPORATE PROFITS & 1% WEALTH
CUTTING TAXES REDUCES: Social Security (Family, Old Age & Unemployment Insurance), Health Care (Medicare, Medicaid), Military & Defense, Regulation of Food/Water/Air/Pharmaceutical Quality, National Parks (Monuments & […]
REPUBLICANS GAME CITIZENS’ RETIREMENTS TO HIDE TAX CUTS FOR CORPORATIONS & THE MOST WEALTHY
Now: People are encouraged to put away money for retirement into IRAs and 401-Ks because they defer tax on that income right now. (They pay […]
19.4% IS ACTUAL CORPORATE RATE PAID
As a group, the 288 corporations (profitable Fortune 500 companies) paid an effective federal income tax rate of 19.4 percent over the five-year period, 2008-2012. […]
TELECOMMUNICATION SECTOR PAID A 9.8% TAX RATE OVER 5 YEARS
Corporations in the financial sector paid an 18.8 %. In the aerospace and defense sector, corporations paid a16.7% Transportation sector corporations paid 16.4 percent. Oil, […]
5 YEARS 5 COMPANIES $77 BILLION IN TAX BREAKS
Wells Fargo, AT&T, IBM, General Electric, and Verizon enjoyed over $77 billion in tax breaks between 2008 and 2011. Source: http://www.ctj.org/corporatetaxdodgers/sorrystateofcorptaxes.pdf
INDIVIDUALS CONTRIBUTE 46%; CORPORATIONS,13%
As corporations’ contributions have dropped by 3/4 to only 1/4 the level in 1944. Individuals’ percentage has remained steady. The cost of maintaining our democracy […]
LOWEST CONTRIBUTIONS BY CORPORATIONS
Corporations contributed 38% of federal revenues in 1944. In 1950 , corporations contributed 30% of federal revenues. 13% is corporate contribution to federal revenues in […]
Eighteen Corporations Paid No Federal Taxes 2008-2015
Eighteen of the corporations [in the study], including General Electric, International Paper, Priceline.com and PG&E, paid no federal income tax at all over the eight-year […]