Sorry to be a bummer but I just had to say something.
April 15th was a couple of days ago…..did you go through the agony of preparing your taxes only to learn you owed the government?
Will it be a burden on your finances?
Well do not worry for no one will take up the slack for our ‘saviors’, big business, has gotten a swell deal from the government…..did you?
Dozens of America’s most profitable corporations avoided paying any federal income taxes in 2025, according to an analysis out on Tuesday from the Institute on Taxation and Economic Policy.
The 88 companies—which include Tesla, Southwest Airlines, Live Nation, Palantir, Citigroup, and many others listed in the S&P 500—brought in a collective $105 billion in pretax income last year.
ITEP found that 2025 saw a spike in corporate tax avoidance, enabled in part by new loopholes created by the One Big Beautiful Bill Act signed by President Donald Trump and by his 2017 Tax Cuts and Jobs Act, which reduced the corporate tax rate to 21% from its previous 35%.
The One Big Beautiful Bill Act is expected to hand the wealthiest 1% of Americans $117 billion in tax cuts this year, while those in the bottom 95% are set to pay more in taxes while facing across-the-board cuts to social safety net programs like Medicaid and the Supplemental Nutrition Assistance Program.
It also allowed multimillion- and billion-dollar corporations to find new ways to avoid paying taxes. More than half of the tax-avoiders listed in the report used a provision in the new tax law allowing companies to immediately write off capital investments, reducing their collective taxes by $11.4 billion.
Pharmaceutical and tech companies, meanwhile, were able to take advantage of tax write-offs for research and development, exempting them from approximately another $4.4 billion.
In total, the corporate tax avoidance documented in 2025 by the researchers helped to rob the public coffers of yet another $26.7 billion, enough to give every public school student a free lunch for a year, according to a University of Missouri analysis of the National School Lunch Program.
https://www.alternet.org/big-beautiful-bill-taxes/
I am so proud of this country for making the hard working public pay all the goddamn bills while the robber barons sit on their fat asses smiling like that fat cat from Alice in Wonderland.
I am starting to like this NYC mayor more4 these days……he sees what I see….I wish others did…..
New York City Mayor Zohran Mamdani is using Tax Day to remind Americans that the nation’s tax code is “rigged” to protect the superrich while making the case for a more equitable system.
In a Guardian op-ed co-written with Nobel laureate in economics Joseph Stiglitz and Paris School of Economics professor Gabriel Zucman, New York’s democratic socialist mayor lamented that the world is living with greater wealth inequality than ever before, with just 0.0001% of the global population holding the equivalent of 16% of global wealth—more than the bottom half of humanity.
Mamdani and the economists attributed the global surge in inequality in large part to America’s “regressive” tax system, which has grown dramatically more favorable to the wealthy over the past half-century.
Compared to 1960, when the 400 richest Americans paid roughly half their incomes in taxes, they now pay about 24%—helped by a combination of lower marginal tax rates and loopholes that allow billionaires and corporations to shield their wealth and effectively pay a smaller share of their incomes than everyone else.
https://www.commondreams.org/news/zohran-tax-day
Ain’t capitalism great?
I Read, I Write, You Know
“lego ergo scribo”