Washington Post: Elizabeth Warren Wants to Make It Simpler to File Taxes

Under current law, corporations can report large sums of annual profit to Wall Street and investors, while still using loopholes to pay no taxes to the feds. According to a study released Thursday by the Institute on Taxation and Economic Policy, at least 60 Fortune 500 companies paid nothing to the federal government in taxes in 2018, continuing a decline in corporate tax revenue since President Trump and congressional Republicans lowered the corporate tax rate. The companies include Amazon (founded by The Post’s owner, Jeff Bezos), which is paying nothing despite earning more than $230 billion worldwide. Read more