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If trickle down works so well, is there any doubt where our rising deficits are coming from?


Billions in Profits, No Taxes: How the Trump Tax Code Let 26 Companies Off the Hook

Rolling Stone Tim Dickinson,Rolling Stone Mon, Apr 15 1:41 PM EDT
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Donald Trump signs sweeping Tax Reform Bill, Washington DC, USA - 22 Dec 2017
We knew President Trump’s 2017 tax bill favored corporate America, but this is ridiculous.

According to a new study, a group of 60 companies in the Fortune 500 booked nearly $80 billion in total profits in 2018, but each owed $0 in taxes. Worse: Many of these companies actually got rebates from Uncle Sam, totaling more than $4 billion.

The report, from the Institute on Taxation and Economic Policy (ITEP), highlights some of the most recognizable names in corporate America who faced no tax bill, including Big Oil giant Chevron ($4.5 billion in profits), tech darling Netflix ($856 million), pharmaceutical titan Eli Lilly ($595 million) and industrial stalwart Goodyear Tire & Rubber ($440 million).

“The specter of big corporations avoiding all income taxes on billions in profits sends a strong and corrosive signal to Americans,” the authors write, “that the tax system is stacked against them.”

Below, according to ITEP, is a list of the 26 companies that raked in at least $1 billion in profits but — through the magic of the 2017 tax bill, edgy accounting practices, special carveouts and corporate tax shelters — did not pay anything to the government on their earnings.

Company Paying No Tax : 2018 Profit

Amazon : $10.8 billion

Delta Air Lines: $5 billion

Chevron : $4.5 billion

General Motors : $4.3 billion

EOG Resources : $4 billion

Occidental Petroleum : $3.4 billion

Duke Energy : $3 billion

Dominion Resources : $3 billion

Honeywell International : $2.8 billion

Deere: $2.2 billion

American Electric Power : $1.9 billion

Kinder Morgan : $1.8 billion

Public Service Enterprise Group : $1.8 billion

Principal Financial : $1.6 billion

FirstEnergy : $1.5 billion

Prudential Financial : $1.4 billion

Xcel Energy : $1.4 billion

PulteGroup : $1.3 billion

Molson Coors : $1.3 billion

Devon Energy : $1.3 billion

Pioneer Natural Resources : $1.3 billion

DTE Energy : $1.2 billion

Wisconsin Energy : $1.1 billion

PPL : $1.1 billion

Halliburton : $1.1 billion

Ameren : $1 billion

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And Bernie Sanders is happy to be a member of the 1% but keep it quiet. "Don't do as I do, do as I say. Wonder how many illegals he is keeping in his spare bedrooms. That would be compassionate of him. Will he do it? No, that is for other people to do and other people's money to do it!!
  
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Today, 07:05 AM

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If you go back to the Rominbus bill in 2016 or 2017 not sure. You'll
remember that Elizabeth Warren stood up and told both sides they were voting to
allow the public to continue bailing out Wall Street and both sides, that's exactly what they did.

At least she told the truth about the kinds of things both sides do.

So you blaming it on Obama is some weak stuff indeed.

Theft is not exclusive to Republicans only but was it theft or was it fixing a bad situation caused by Republican deregulation?

Did deregulation cause the problems to start off with? Were it not for deregulation
there wouldn't be nearly the risk taking that there was in the subprime meltdown but
of course that wasn't Obama's fault. However he gets the credit for those bailouts.


Deregulation of banks so they can practice predatory lending practices to people who
are starved to obtain the American Dream (and probably can't afford it) so really
Obama may have been on deck but he was really cleaning up a Republican mess.
Just like someone is going to have to clean up the rising deficit driven up by
Republican Tax Reform.

The plan was never to be good politicians for the long term and win the hearts of the
people. It was to exact as much damage as possible to fair laws for people so that
the rape of the middle class can continue leaving the Democrats to clean up the
mess for the next bunch of lies to put Republicans back at the helm.

In that scenario what is Obamas choice to let the largest banks we have collapse?

I don't like it one bit but the consequences of policies the Republicans pushed for were the cause of it.
You're all over the map which makes it impossible to stay on subject, let alone do it intelligently.

Although the financial crisis, which was directly caused, and I believe it was done intentionally and criminally by the banking industry, was bailed out under the Bush administration, one of the principle causes of the crisis was, in fact, bank deregulation, which I believe that was spearheaded by the Clinton administration. I'm not sure what all this corruption and incompetence has to do with taxation, which, in and of itself, is the criminal act of theft by force by government, but, I am sure that business enterprise is more a major benefit to a nation than millions of non productive and parasitic individuals.
  
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Today, 07:26 AM

Who is leading the charge on deregulation of nearly everything right now?

Did Clinton not face a Republican majority in Congress for his last 6yrs that could override his veto?



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Originally Posted by jimmyg View Post
You're all over the map which makes it impossible to stay on subject, let alone do it intelligently.

Although the financial crisis, which was directly caused, and I believe it was done intentionally and criminally by the banking industry, was bailed out under the Bush administration, one of the principle causes of the crisis was, in fact, bank deregulation, which I believe that was spearheaded by the Clinton administration. I'm not sure what all this corruption and incompetence has to do with taxation, which, in and of itself, is the criminal act of theft by force by government, but, I am sure that business enterprise is more a major benefit to a nation than millions of non productive and parasitic individuals.


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For the life of me, I can't understand why so many of you continue to respond to this mindless drivel?
Surely, you've got better things to do with your time than to waste it "debating" someone who you wouldn't trust to properly butter toast?
Would you discuss economics or politics with a 10 year-old? Then why are you doing it with and adult who thinks like one?


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By hatchet, axe, and saw..."

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For the life of me, I can't understand why so many of you continue to respond to this mindless drivel?
Surely, you've got better things to do with your time than to waste it "debating" someone who you wouldn't trust to properly butter toast?
Would you discuss economics or politics with a 10 year-old? Then why are you doing it with and adult who thinks like one?
I plead guilty and beg the court for mercy...I confess that I am often weak.

  
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