Biggest Tax Dodgers 2022: FedEx, Nike, Duke Energy, Charter Communications, PPL

From Accountable.US An Accountable.US review has found that five of these tax-dodging corporations had an average effective tax rate of -11.6% and together owed -$636 million in federal income tax in 2020—meanwhile in 2019, the average taxpayer owed $10,649 in taxes for an average tax rate of 13.3%. Then in 2021, these same companies started raising costs on American consumers…

How FedEx Cut Its Tax Bill to $0 – The New York Times

In the 2017 fiscal year, FedEx owed more than $1.5 billion in taxes. The next year, it owed nothing. What changed was the Trump administration’s tax cut — for which the company had lobbied hard. The public face of its lobbying effort, which included a tax proposal of its own, was FedEx’s founder and chief…

Big businesses paying even less than expected under GOP tax law – POLITICO

Federal tax payments by big businesses are falling much faster than anticipated in the wake of Republicans’ tax cuts, providing ammunition to Democrats who are calling for corporate tax increases.The U.S. Treasury saw a 31 percent drop in corporate tax revenues last year, almost twice the decline official budget forecasters had predicted. Receipts were projected…

Corporate Tax Cuts Don’t Create Jobs, They Enrich CEOs | The Nation

Though congressional Republicans and the White House rarely see eye-to-eye these days, they are united on the idea that cutting corporate taxes will spur an hiring boom that will reach down to the ordinary worker. A new report from the Institute for Policy Studies shows this isn’t true. US companies are already paying minimal amounts…