September 29, 2020

Business Insider: I made $10,500 as a freelancer in 2018 — and still paid more taxes than Trump. The system is broken.

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According to a 2019 report by the Institute on Taxation and Economic Policy, 60 companies, including Netflix, Chevron, and Eli Lilly, did not pay federal income taxes in 2018. “Instead of paying $US16.4 billion in taxes, as the new 21% corporate tax rate requires, these companies enjoyed a net corporate tax rebate of $US4.3 billion, blowing a $US20.7 billion hole in the federal budget last year,” the report concluded. Read more



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