The Intercept: Elizabeth Warren Has a Novel Idea

Under President Donald Trump’s tax overhaul, the Tax Cuts and Jobs Act, the corporate tax rate dropped from 35 percent to 21 percent, making it easier for companies to avoid paying taxes. This year, twice as many companies are paying zero taxes on their billions of profit, NBC News reported. At least 60 companies reported a tax rate of zero, according to an analysis by the Institute on Taxation and Economic Policy.

In addition to not paying a dime last year in federal taxes on more than $11 billion in profits, Amazon received a tax refund of $129 million from the federal government. Read more

 

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