Tax These Bastards

The list below is corporations who paid no federal income tax on profits in 2020. In an attempt to reach a bipartisan agreement on infrastructure President Biden has reduced his plan from 2.3 trillion dollars to 1 trillion dollars. He has dropped his request for an increase in the corporate tax rate from 21% to 28%. He has now proposed a 15% minimum tax on corporations making a profit. Somehow Republicans seem to think that is outrageous. Corporations paying their fair share for the infrastructure that benefits them. Blasphemy!!!!  This simply confirms my belief that the Republicans in the Senate have two thoughts. One, compromise that allows Democrats to accomplish anything is bad. Second, you propose a number and then we make a counter offer. When you agree to our number we have compromised. 

Based on the list below those companies made profits of 40,285,000,000 dollars. A 15% tax would cost them 6,072,300,000. If you add in their rebates of 3,497,000,000 their tostado cost is 9,569,300,000. Seems reasonable unless your an asshole like Mitch McConnell. Paying unemployed folks an extra $300 is outrageous. Raising the minimum wage to $15 is clearly not a good idea to Mitch. Having profitable corporations pay no federal income tax suits them just fine. Well, it’s Friday so Mike I’m going to borrow this from you. Mitch McConnell and Senate Republicans welcome to Fuck You Friday!!!!

Company Name	U.S. Pre-Tax Income	Current Federal Income Tax	Effective Tax Rate	Industry
Advanced Micro Devices	$1,208.00	-	0.0%	Computers, office equip, software, data
Akamai Technologies	$40.00	$−2.00	−4.4%	Computers, office equip, software, data
Albemarle	$42.00	$0.00	−0.3%	Chemicals
American Electric Power	$2,163.00	$−138.00	−6.4%	Utilities, gas and electric
Archer Daniels Midland	$438.00	$−164.00	−37.4%	Food & beverages & tobacco
Ball	$193.00	$−33.00	−17.1%	Miscellaneous manufacturing
Booz Allen Hamilton Holding	$561.00	$−3.00	−0.5%	Computers, office equip, software, data
Cabot Oil & Gas	$240.00	$−32.00	−13.2%	Oil, gas & pipelines
Charter Communications	$3,680.00	$−7.00	−0.2%	Telecommunications
CMS Energy	$885.00	$−35.00	−4.0%	Utilities, gas and electric
Community Health Systems	$323.00	$−1.00	−0.3%	Health care
Consolidated Edison	$1,227.00	$−2.00	−0.2%	Utilities, gas and electric
Danaher	$1,583.00	$−321.00	−20.3%	Miscellaneous manufacturing
Dexcom	$265.00	$0.00	0.0%	Pharmaceuticals & medical products
Dish Network	$2,532.00	$−231.00	−9.1%	Telecommunications
DTE Energy	$1,531.00	$−247.00	−16.1%	Utilities, gas and electric
Duke Energy	$826.00	$−281.00	−34.0%	Utilities, gas and electric
Ecolab	$95.00	$−50.00	−52.6%	Chemicals
Evergy	$722.00	$−27.00	−3.7%	Utilities, gas and electric
FedEx	$1,218.00	$−230.00	−18.9%	Miscellaneous services
FirstEnergy	$1,108.00	$−14.00	−1.3%	Utilities, gas and electric
Fiserv	$1,100.00	$−25.00	−2.3%	Financial data services
Hologic	$887.00	$−62.00	−7.0%	Health care
Howmet Aerospace	$86.00	$−2.00	−2.3%	Miscellaneous manufacturing
HP	$861.00	$−24.00	−2.8%	Computers, office equip, software, data
Interpublic Group	$284.00	$−53.00	−18.5%	Miscellaneous services
Jacobs Engineering Group	$213.00	$−37.00	−17.4%	Engineering & construction
Kansas City Southern	$327.00	$−2.00	−0.6%	Transportation
Kinder Morgan	$654.00	$−20.00	−3.1%	Oil, gas & pipelines
Lincoln National	$423.00	$−61.00	−14.4%	Financial
Michaels	$322.00	$−11.00	−3.5%	Retail & wholesale trade
Mohawk Industries	$87.00	$−34.00	−38.9%	Miscellaneous manufacturing
Nike	$2,873.00	$−109.00	−3.8%	Miscellaneous manufacturing
Nucor	$1,220.00	$−177.00	−14.5%	Metals & metal products
Owens & Minor	$74.00	$−4.00	−6.0%	Retail & wholesale trade
Penske Automotive Group	$505.00	$−78.00	−15.5%	Motor vehicles and parts
PPL	$878.00	$−9.00	−1.0%	Utilities, gas and electric
Qurate Retail Group	$687.00	$−8.00	−1.2%	Internet services & retailing
Salesforce.com	$2,630.00	$−12.00	−0.5%	Computers, office equip, software, data
Sanmina-SCI	$95.00	$−1.00	−1.0%	Computers, office equip, software, data
Seaboard	$136.00	$−50.00	−36.8%	Food & beverages & tobacco
Sealed Air	$323.00	$−14.00	−4.4%	Miscellaneous manufacturing
Telephone & Data Systems	$284.00	$−175.00	−61.6%	Telecommunications
Textron	$278.00	$−1.00	−0.4%	Aerospace & defense
Treehouse Foods	$8.00	$−96.00	−1,167.1%	Food, beverages, tobacco
Tutor Perini	$96.00	$−36.00	−37.7%	Engineering & construction
Tyler Technologies	$176.00	$−11.00	−6.0%	Computers, office equip, software, data
UGI	$420.00	$−85.00	−20.2%	Utilities, gas and electric
Unum Group	$923.00	$−98.00	−10.7%	Financial
Verisign	$447.00	$−124.00	−27.7%	Computers, office equip, software, data
Voya Financial	$195.00	$−9.00	−4.6%	Financial
Westlake Chemical	$227.00	$−208.00	−91.6%	Chemicals
Williams	$278.00	$−29.00	−10.4%	Oil, gas & pipelines
Xcel Energy	$1,465.00	$−13.00	−0.9%	Utilities, gas and electric
Xilinx	$140.00	$−2.00	−1.5%	Computers, office equip, software, data
Total, All 55 Companies	$40,482.00	$−3,497.00	−8.6%

Source: Institute on Taxation and Economic Policy analysis of Securities and Exchange Commission filings of publicly traded corporations Created with Datawrapper

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