I have to admit, it is a valid question. Percentage wise, they are not even close.
Looks like their net revenue for 2018 was 234 billion. If all they paid is 412 million that's like .18 percent. At the 21 percent number, they should have paid almost 50 billion in taxes. Sure. There will be some deductions for payroll and a few other things, but not enough to wipe away 99% of their tax burden.
I agree in that respect. They should pay what they are required to. If 21% is the number then that is what they should pay.
Or did I get my math wrong...?
234 billion is their gross revenue, moron. Their pretax income was $11 billion. They paid about $1.2 billion in income tax. At the 50% rate they would have paid about $5.5. billion.
/——/ You’re debating a libtard who doesn’t know or care about facts. It’s just bash corporations 24/7
Lol, I'm not a liberal. I do however think that companies should pay what is required. Not a high rate, 21% seems fine and right in line with what the rest of the world pays.
/----/ Corporate taxes are counterproductive. I'm not talking about sales and use taxes or property tax, I'm talking about a tax on profits. All that does is drive up consumer prices.
I agree that corporate taxes should be different that personal taxes. Corporations are what give people jobs, and help make the products that drive the economy. I agree they should be low, but do you feel they should be non existent? I dont know enough about corporate America to answer that myself.
I can see where you would say that there should be a 0% corporate tax rate, I just dont know if that is feasible. Maybe there should be a flat tax rate, and then the company gets percentage deductions based on the number of people they employ? So, if you're a mega corporation that employs 80,000 people, you get a bigger discount than a company that employs 100 people. Granted, the smaller company would pay the same tax rate as the bigger company, but their tax payment would be much smaller because they bring in less revenue?
In just shooting at the hip here, not sure that would work.