Can’t waste much time on you or this subject. I already provided an article that outlines the real taxes paid before and after Trump’s giveaway to the rich. Of course his were just the latest in a long line of betrayals and giveaways too our elite mega-wealthy.
One of that article’s many links shown below has lots more information about “real taxation and real corporate profits.” You are terminally naive. Of course these articles are from the Trump era before Covid, but nothing essential has changed concerning taxation later under Trump, and as I already indicated precious little has changed regarding taxes under Biden either.
Of course you probably rejoice in all that … and like many paleo-conservatives and Trumpsters would like to defund the federal government, it’s Internal Revenue Service, etc. etc. Many lunatic Republicans are so crazy these days they would bankrupt our Republic, shut down the government, reduce funding for crucial programs — the better to make America completely dependent on the growing financial oligarchy of the mega-rich … who just like you put profits and greatly increasing asset values of stocks and financial instruments ahead of real economic growth, and who disregard the need to defend our economy from economic threats from China and military threats to Europe from Putin.
You are not a total dummy about economics. But your political support for the “economic policies” of Donald Trump (our proud “King of Debt, Bankruptcy and Tax Dodging” who pushed a Zero Interest Rate Policy when in office) can hardly lead you to a deeper understanding of complicated economic reality.
Corporate Tax Avoidance in the First Year of the Trump Tax Law
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Excepts from the first article:
“Many large, profitable corporations are paying no tax.
“Researchers at the Institute on Taxation and Economic Policy (ITEP) surveyed corporate financial reports for the first year that the TCJA was in effect and recently published their
findings. Examining 379 profitable Fortune 500 companies, they found that the companies paid an average effective tax rate of just 11.3 percent on their U.S. income in 2018—slightly more than half of the 21.2 percent average effective rate that large corporations paid from 2008 to 2015 [when the “official” interest rate was according to you 35%] . Shockingly, ITEP found that 91, or nearly one-quarter, of these major corporations paid no federal income tax on their U.S. income in 2018.”
The TCJA 2 Years Later: Corporations, Not Workers, Are the Big Winners