December 16, 2019

Yahoo Finance: 91 Profitable Fortune 500 Companies Paid $0 in Taxes in 2018 under Trump’s Tax Law

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Matthew Gardner, senior fellow at ITEP and lead author of the report says that what companies doing is “entirely legal”, but that they can avoid paying taxes thanks to tax breaks.

“A whole host of tax breaks in the code collectively have this pernicious effect,” Gardner said. But he added, though legal, “this doesn’t exonerate these companies from wrongdoing.”

“What we are seeing is a product of the actions of Congress, aided and abetted by corporate lobbyists,” he explained. “This is the predictable consequence of creating tax breaks for any activity you can think of.”

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