A single worker for minimum wage paid more tax in 2018 than 60 Fortune 500 companies put together.

[Twilight Hue]

60 Fortune 500 Companies Avoided All Federal Income Tax in 2018 Under New Tax Law

How? One might ask?

By taking advantage of the 2017 tax cut and jobs Act and ended up paying.....

Not a single penny.

Not a single dime.

Nothing whatsoever.

HOWEVER .......

These Fortune 500 companies enjoyed a REBATE of 4.3 billion dollars for not paying.....

A single penny

A single dime.

Nothing whatsoever.

I am floored, speechless, and my mouth is wide open with wide eyes in utter disbelief.

People go to jail for tax evasion. Some sentences on par for murder even.

And then we see this. With a REBATE????

OMG.

 

[Daemon Sophic]

Welcome to the plutocracy, neophyte.

But wait! Per Republican conservative dogma, giving that much to the uber-wealthy (I mean “makers”) must result in wealth and prosperity for the workers of our nation (us “takers”).
So rejoice! For now that the richy riches have all the money, they are soon going to start making millions of job opportunities for us peons via trickle-down economics.


Hmmmm....I wonder why the aristocratic job-makers who have told us that “trickle-down” economics really work.....call us.....”peee-ons”......

 

[Quetzal]

60 Fortune 500 Companies Avoided All Federal Income Tax in 2018 Under New Tax Law

How? One might ask?

By taking advantage of the 2017 tax cut and jobs Act and ended up paying.....

Not a single penny.

Not a single dime.

Nothing whatsoever.

HOWEVER .......

These Fortune 500 companies enjoyed a REBATE of 4.3 billion dollars for not paying.....

A single penny

A single dime.

Nothing whatsoever.

I am floored, speechless, and my mouth is wide open with wide eyes in utter disbelief.

People go to jail for tax evasion. Some sentences on par for murder even.

And then we see this. With a REBATE????

OMG.

Yes, I see this as a huge problem as well. A huge revenue source for our economy and infrastructure gone.

 

[Stevicus]

60 Fortune 500 Companies Avoided All Federal Income Tax in 2018 Under New Tax Law

How? One might ask?

By taking advantage of the 2017 tax cut and jobs Act and ended up paying.....

Not a single penny.

Not a single dime.

Nothing whatsoever.

HOWEVER .......

These Fortune 500 companies enjoyed a REBATE of 4.3 billion dollars for not paying.....

A single penny

A single dime.

Nothing whatsoever.

I am floored, speechless, and my mouth is wide open with wide eyes in utter disbelief.

People go to jail for tax evasion. Some sentences on par for murder even.

And then we see this. With a REBATE????

OMG.

Well, we'll show them. Next year, we'll tax them double!

 

[Twilight Hue]

Welcome to the plutocracy, neophyte.

But wait! Per Republican conservative dogma, giving that much to the uber-wealthy (I mean “makers”) must result in wealth and prosperity for the workers of our nation (us “takers”).
So rejoice! For now that the richy riches have all the money, they are soon going to start making millions of job opportunities for us peons via trickle-down economics.


Hmmmm....I wonder why the aristocratic job-makers who have told us that “trickle-down” economics really work.....call us.....”peee-ons”......

You won't find me defending Republicans on this one.

One thing for sure. Most common folks are royally screwed beyond recompense under the jackboots of a runaway and out of control oligarchy.

 

[Shadow Wolf]

Nothing new, really. It's been going on for awhile. Several years ago Warren Buffet even published a piece writing that he paid less than his secretary.

 

[Twilight Hue]

Well, we'll show them. Next year, we'll tax them double!

The common man will have the distinct privilege of paying double the tax.

The oligarchy will have the privilege of receiving the rebate.

 

[Twilight Hue]

Nothing new, really. It's been going on for awhile. Several years ago Warren Buffet even published a piece writing that he paid less than his secretary.

Those loopholes. Are only for the rich class and designed so we can't take advantage of any of them ourselves who are not members of the club.

It's going to be awful hard to call for tax reform if the ones who created the tax code in the first place are the clear beneficiaries.

Translation:

The common people are permanently screwed.

 

[Twilight Hue]

I never realized it has actually gotten this bad.

 

[Twilight Hue]

Welcome to the plutocracy, neophyte.

But wait! Per Republican conservative dogma, giving that much to the uber-wealthy (I mean “makers”) must result in wealth and prosperity for the workers of our nation (us “takers”).
So rejoice! For now that the richy riches have all the money, they are soon going to start making millions of job opportunities for us peons via trickle-down economics.


Hmmmm....I wonder why the aristocratic job-makers who have told us that “trickle-down” economics really work.....call us.....”peee-ons”......

Even I am beginning to realize trickle-down has its limits.

 

[Watchmen]

Isn’t comparing individual tax liability to corporate tax liability like apples and oranges? While the company didn’t pay taxes, I bet it’s management and shareholders paid a loads of taxes individually.

 

[Twilight Hue]

I really don't think the next major war will be primarily over things like race or politics although it can certainly be an aspect.

It would more likely be between the rich and the poor.

Interesting opinion piece.....


How a Real Class War, Like with Guns, Could Actually Happen

 

[Stevicus]

The common man will have the distinct privilege of paying double the tax.

The oligarchy will have the privilege of receiving the rebate.

The common man can always go on strike. Or vote in a better government with the power to crush the oligarchy. That's one of the core reasons why people become socialists, since they want to get rid of the plutocracy or oligarchy or whatever one wants to call it.

 

[Twilight Hue]

The common man can always go on strike. Or vote in a better government with the power to crush the oligarchy. That's one of the core reasons why people become socialists, since they want to get rid of the plutocracy or oligarchy or whatever one wants to call it.

Then it seems to just go from one nightmare to another.

 

[Twilight Hue]

Isn’t comparing individual tax liability to corporate tax liability like apples and oranges? While the company didn’t pay taxes, I bet it’s management and shareholders paid a loads of taxes individually.

That's a true and valid point. I still maintain that corporations as a personhood never pay taxes anyways because they just move the cost on to the consumer who in turn even pays more tax.

Corporations always did pay corporate tax but when you start seeing 60 Fortune 500 companies avoid taxes all together and receive rebates on top of paying absolutely nothing, it makes you really wonder how long it will be before all corporations will eventually go that same exact route?

It's really disturbing to see, and the repercussions it will bring as a result.

 

[Twilight Hue]

Yes, I see this as a huge problem as well. A huge revenue source for our economy and infrastructure gone.

That's the real damage.

 

[Twilight Hue]

I sometimes wonder if we even have a legitimate government anymore. I have a feeling that we pretty much as a free people lost the war and just never realized it all along.

https://represent.us/action/theproblem-3/

Our government is no longer 'alive' like it originally once was. It's now a zombie.

 

[sun rise]

You won't find me defending Republicans on this one.

One thing for sure. Most common folks are royally screwed beyond recompense under the jackboots of a runaway and out of control oligarchy.

I know what my solution to this is. What's your solution? If I like it, I might even change my mind.

 

[suncowiam]

60 Fortune 500 Companies Avoided All Federal Income Tax in 2018 Under New Tax Law

How? One might ask?

By taking advantage of the 2017 tax cut and jobs Act and ended up paying.....

Not a single penny.

Not a single dime.

Nothing whatsoever.

HOWEVER .......

These Fortune 500 companies enjoyed a REBATE of 4.3 billion dollars for not paying.....

A single penny

A single dime.

Nothing whatsoever.

I am floored, speechless, and my mouth is wide open with wide eyes in utter disbelief.

People go to jail for tax evasion. Some sentences on par for murder even.

And then we see this. With a REBATE????

OMG.

You have to read each companies taxes to get the details. Most of the time it is not based on the events of a single year but could be based from previous years. Loss carryovers can combine to give a bigger tax break. Companies have accountants to maximize their profits and knowing how to minimizing their tax losses is the other side of the coin in maximizing their profits.

 

[Stevicus]

Then it seems to just go from one nightmare to another.

Or maybe the cure is just as painful as the disease.

I think what will eventually happen, if we continue with this kind of fiscal irresponsibility and what appears to be blatant corruption and swindling of the American people, society will just continue to gradually erode until it breaks down entirely.

But maybe we can turn things around in this country. We don't necessarily have to go the socialist route, but we definitely need to change the way we do things in this country.

I can certainly understand the general feeling of wanting to put a stop to all this scum and villainy at the upper levels of power in this country.

Even the electoral process seems an exercise in futility. I've lived through quite a number of elections, and almost every candidate claims that they want to fight for the people, to oppose special interests, to cut waste and pork barrel spending, to fight corruption, and so on. This, coming from both parties - these are all the right things to say and what the people want to hear from both sides - even if they disagree on almost everything else.

And they say it, all the time, yet they never do it. And we the people keep buying it. We keep getting suckered in by politicians' sweet talk, election after election. Liberal or conservative, leftist or rightist - it doesn't matter. Both sides are getting suckered by two branches of the same political cabal.

This is what we're stuck with, and it's not going to change until enough people stand up and say "no more!" Or at the very least, they can put greater thought and consideration into their voting choices. We're supposed to have a government of the people, by the people, and for the people, so we the people have to take back our government.

I mean, it's really so simple when you think about it, yet all that one sees out there is endless squabbling on a sinking ship. It's maddening.