How the Tax Code Can Demand Corporate Accountability and Community Investment
When communities thrive, so do corporations. But when profitable corporations build their empires by exploiting the tax code, it is workers, the environment and our communities—not CEOs or shareholders—that are harmed. Amazon posted its highest U.S. profit ever for 2020, an unprecedented year defined by a pandemic. Yet the company sheltered more than half its profits from corporate taxes—legally. While the company may be one of the most recognizable tax avoiders, it’s not an outlier.
On April 8, 2021, Institute on Taxation and Economic Policy Executive Director Amy Hanauer and Senior Fellow Matthew Gardner hosted a presentation on unrigging the corporate tax code, followed by a panel discussion with Arlene Martinez (Good Jobs First), Stacy Mitchell (Institute for Local Self-Reliance) and Dania Rajendra (Athena).
Access resources and the recording below:
- ITEP: 55 Corporations Paid $0 in Federal Taxes on 2020 Profits
- Shortchanging Small Business: How Big Businesses Dominate State Economic Development Incentives
- Good Jobs First: Amazon Subsidy Tracker
- Good Jobs First: The Other Environmental Regulators: How States Unevenly Enforce Pollution Laws
- Abating Our Future: How Students Pay for Corporate Tax Breaks
- Amazon Has Record-Breaking Profits in 2020, Avoids $2.3 Billion in Federal Income Taxes
- Why the Left Should Ally With Small Business
- Amazon’s Massive Chicago-Area Expansion Was Fueled By $741 Million From Taxpayers
- NYTimes: As Amazon Rises, So Does the Opposition
- The Rise and Fall of the Word ‘Monopoly’ in American Life
- If We Want Racial Justice, We Have to Take on Amazon
- Looking for the Symbol of Racial Capitalism? Look No Further Than Amazon | The Forge