In 2020, Marc Benioff, the co-founder and CEO of Salesforce, declared to the New York Times that “it’s time for a new kind of capitalism: stakeholder capitalism, which recognizes that our companies have a responsibility to all our stakeholders”.

And how is our current system not already an extreme version of this???

How much the top 25 companies saved in taxes stiffed the public funds

Bank of America $23.89 billion

AT&T $17.68 billion

J.P. Morgan Chase & Co. $16.69 billion

Verizon Communications $13.68 billion

Apple $9.26 billion

General Motors $6.52 billion

Citigroup $5.88 billion

Walt Disney $5.09 billion

NextEra Energy $4.57 billion

Duke Energy $4.51 billion

Comcast $4.36 billion

Walmart $4.04 billion

T-Mobile US $3.84 billion

Southern $3.41 billion

United Parcel Service $3.32 billion

Nike $3.12 billion

PNC Financial Services Group $3.08 billion

Netflix $2.98 billion

Texas Instruments $2.92 billion

Charter Communications $2.75 billion

Kinder Morgan $2.75 billion

FedEx $2.66 billion

Dominion Energy $2.62 billion

DISH Network $2.60 billion

Principal Financial $2.47 billion

23 corporations, including T-Mobile US and Xcel Energy, paid zero (or less) federal income tax over the five-year period

So... Does that mean they paid zero taxes and got a return? How the hell do you pay less than zero dollars in taxes?

The industries enjoying the lowest five-year effective tax rates were utilities (negative 0.1 percent); oil, gas, and pipelines (2.0 percent); motor vehicles (3.2 percent); and telecommunications (7.7 percent).

Most of which are actively destroying the earth. Probably a coincidence.

I knew this was happening and has been forrrrrever but it still makes me angry every time it comes up

Or less... Or less?! So we should pay them?

Despite their record profits they see fit to drive inflation up and charge customers more.

That cannot be right, because we still had to bail them out in 2020. Surely Repubs wouldn't give out massive tax cuts to businesses and then also massive handouts to businesses when they are the party of self-sufficiency and accountability? If both those things were true, one must conclude that Repubs are all deceitful and without integrity.

Remember this was that exciting trump-regime kerfuffle when the tax bill was absolutely the only idea they had (no new medicare, no infrastructure bill, they were a hot mess with no ideas and less sense).

They all heroically came together to shove a huge profit grab through and they didn't even do that right - the . . . rules judge (f**kme I can't think of the title of that role and web searching was zero help. I did find this contemporary recap from CNN that is absolutely a perfect time-capsule of the idiocy and horifying betrayal the corporate news became for trump)

Anyway, they had faxed in hundreds of hand-written items in the margins of the bill to create a superclusterfuck of legislative assault and even the senate rules person had to stiff arm them for a few hours in the middle of the night lest they accidentally give AirForce One to Papa John or some equally fucked up thing.

Only one Republican dissented, Bob Corker, and he did the best that a newly-pithed republican could do at the time, which was reitre and say trump was a loser - but, of course, do absolutely nothing to stop him.

they could have maintained or even increased the effective rate paid by corporations by shutting down special breaks and loopholes in the corporate income tax. But from the very beginning of the debate over the 2017 legislation, it was clear their goal was to allow corporations to contribute less to the public investments and the society that makes their profits possible.

OR LESS

This shit is why I don't pay taxes.

I'd MUCH rather my Tax Dollars go to THAT then to go to feeding STARVING AMERICAN CHILDREN! I'm Pro Life and trying to Protect The Kids!

Direct link to the report

Good to see ol big ed is doing well for himself.