I hope you've got your taxes done. It's a pain in the butt every year (so Carol tells me) but this year more than most. Why? Because we owe money this year on our federal taxes. In fact, many middle class Americans suddenly and unexpectedly owe money this year.
But not to worry! For these citizens have paid $0 in taxes!
- Amazon
- Chevron
- Deere
- Delta Air Lines
- General Motors
- Halliburton
- Honeywell International
- Molson Coors
- Prudential Financial
Doesn't it warm your heart? Doesn't it make your sacrifice worthwhile? Well, then this should thrill you! Here are sixty Fortune 500 companies that not only paid ZERO in taxes, but collectively got a tax REBATE of $4.3 BILLION.
Just a few examples:
The retail giant Amazon reported $11 billion of U.S. income and claimed a federal income tax rebate of $129 million.
Beer maker Molson Coors enjoyed $1.3 billion of U.S. income in 2018 and received a federal income tax rebate of $22.9 million.
General Motors had an income of $4.3 billion and got back $104 million.
And what are the results of this corporate largess?
Tax revenue for October 2018 through January 2019 fell $19 billion, or 2 percent, Treasury said. It noted a major reduction in corporate tax payments over the first four months of the fiscal year, falling close to 25 percent, or $17 billion. Link
Thanks Republican tax cut!
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