- Moderator
- #1
The big corporations with armies of lawyers and lobbyists will still be able to navigate around the tax codes and wiggle their way out of payment. Just as it has been in the past, the idea that corporations will pay their "fair share" is nothing more than smoke and mirrors for the masses and that's hardly surprising. Wall Street sent most of their campaign donations to Biden in the last presidential race, overall. They didn't do that to lose money.
The bill, however, doesn’t touch the main reasons why profitable companies sometimes don’t pay taxes, including accelerated depreciation of investments and tax credits for activities such as research and development. The bill does strengthen a minimum tax on U.S. companies’ foreign profits, but it doesn’t include the separate minimum tax that Mr. Biden proposed to limit the number of zero-tax companies.
The legislation also expands tax credits for clean energy and low-income housing in ways that could push some companies from paying little to paying nothing.
“Corporations that don’t pay any taxes are still going to be able to go on paying no taxes, and in some ways they may even get a bigger refund,” said Frank Clemente, executive director of Americans for Tax Fairness, a progressive group that advocates higher taxes. “It is remarkable that there is no talk about this in Congress.”
www.zerohedge.com
The bill, however, doesn’t touch the main reasons why profitable companies sometimes don’t pay taxes, including accelerated depreciation of investments and tax credits for activities such as research and development. The bill does strengthen a minimum tax on U.S. companies’ foreign profits, but it doesn’t include the separate minimum tax that Mr. Biden proposed to limit the number of zero-tax companies.
The legislation also expands tax credits for clean energy and low-income housing in ways that could push some companies from paying little to paying nothing.
“Corporations that don’t pay any taxes are still going to be able to go on paying no taxes, and in some ways they may even get a bigger refund,” said Frank Clemente, executive director of Americans for Tax Fairness, a progressive group that advocates higher taxes. “It is remarkable that there is no talk about this in Congress.”
The List Of Companies Paying No Taxes Might Increase Under Biden's Tax Plan | ZeroHedge
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
www.zerohedge.com
