Los Angeles Times: Opinion: The Trump Tax Cut Has Amounted to Nothing but Broken Promises for the Middle Class

Thanks to loopholes and the cut itself, tax collections from corporations in the first year of the new law collapsed. ITEP found that the effective corporate tax rate for 379 profitable Fortune 500 corporations was just 11.3% last year. That’s about half the rate Trump’s new law established, which slashed the previous rate by 40%. More than 90 corporate titans — including Amazon, Chevron, FedEx, IBM, General Motors and Netflix — paid zero in federal income taxes last year.

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