Fact of the day

 

Reverse Robin Hood

In 2020, fifty corporations with over $40 billion in pre-tax income paid zero federal income taxes.  These companies included Fed Ex (remember this the next time one of their asshole drivers cuts you off while driving on roads that you--but not their employer--helped pay for), Nike, Dish Network, and Hewlett Packard (among many others).

All of this courtesy of Donald Trump and the republican party.

It's a continuation of a decades long pattern from republicans to give corporations welfare but skimp on basic necessities for average Americans.  And it's why the Biden administration is right to pay for the upcoming jobs plan/infrastructure bill with an increase in corporate taxes.  

And it's why Biden is saying goodbye to republicans failed trickle down economics and hello to building America back better by investing from the bottom up.

It's Not Just an Infrastructure Bill, It's a Jobs Plan, Too

Peace,

emaycee

While we were sleeping

Greed will eventually be the end of the U.S. of A.

Sadly lost again in all of the hoopla surrounding the piece of shit that is Donald Trump, is the fact that  Fortune 500 companies last year had an average tax rate of 11.3% on record profits, which is less than most average citizens pay on millions less in income.  Ninety-one companies in the Fortune 500 paid nothing, another 56 paid less than 5%.  Corporate taxes have fallen to 1% as a share of federal revenue, as republicans continue to ensure that the rich get richer and the rest of us get fucked.

Something to think about the next time you're driving down the road and get cut off by a Fed Ex driver:  remember that that truck that is driving on roads you paid for belongs to a company that paid zero in federal taxes last year, and therefore zero for the road on which you just got cut off.

It's only a matter of time before the economic payback shit storm hits, and it will not be pretty for Corporate America at all.

Fuck Donald Trump,
emaycee

All apologists

I wasn't surprised, when reading this piece by Robert Scheer, that American corporations don't pay their taxes.  Pissed off, yes, but surprised, no.  But what is surprising is the number of apologists for worthless U.S. corporations in the comments section.  But when I thought about it, rank and file republicans are a lot like corporations--corporations want our military to protect them, our public schools to educate their workers, our roads to get their workers to and from work, their products across America...but unlike the rest of us, they think they're entitled to these and shouldn't have to pay for it.  Rank and file republicans want Medicare and to collect Social Security, and they, too, make use of our roads and our military...and they, too, want the rest of us (but heaven forbid themselves) to pay for their public services.

Welfare queens, indeed.

Peace,
emaycee

That deadbeat 1%

While corporate profits are skyrocketing, corporate taxes are plummeting to all time lows (less than 10% of federal tax revenues).  The effective tax rate on corporations now stands at a little over twelve percent--considerably less, percentagewise, than most of us pay.

While corporations were reaping $824 billion in profits last year, the working men and women of America saw their wages fall to an all-time low, 43.5 percent of GDP (historically it's been over 50%).

Explain to me please, why a) we continue to subsidize corporations, and b) we need to cut the social safety net?  In a better world, the only matter we'd be discussing in the fiscal curb negotiations is how much more American corporations are going to pay.

We ought to just be called the United Corporations of America.

Peace,
emaycee