The American Prospect: Trickle Downer of the Week

Meanwhile, the Trump administration works tirelessly to ease tax rates for millionaires, billionaires, and corporations while ripping away affordable health care for everyone else. The president wants to dramatically reduce the 35 percent corporate tax rate under the guise of spurring economic growth. Yet research has shown that many companies pay nowhere near the top marginal rate, thanks to umpteen lucrative tax loopholes. Between 2008 and 2015, 18 Fortune 500 companies paid no federal taxes at all, according to a study by the Institute on Taxation and Economic Policy.

Moreover, corporations like Apple, Pfizer, and Microsoft continue to stash tens of billions in profits abroad, avoiding an estimated $767 billion in taxation stateside. Trump wants to give those companies a generous tax holiday on their offshore profits as a way to entice investment in the United States. Read more