BIG CORPORATIONS 

J tax

A Journal of People report

Fifty-five of the biggest U.S. companies paid $0 in federal taxes or no tax last year, found a new study from the Institute on Taxation and Economic Policy (ITEP).

Despite raking in billions, Nike, Duke Energy, FedEx, and other public companies have paid no federal corporate income tax in the U.S. since 2018, according to the study.

The 55 publicly traded companies would have paid an estimated $12 billion in federal taxes if not for corporate tax breaks in 2020, including $8.5 billion in tax avoidance and $3.5 billion in tax rebates, the report found using regulatory filings and other information.Read More »

Where has all the surplus gone?

by David Ruccio

Real World Economic Review Blog | November 15, 2017

profits abroad

Thanks to the release of the so-called Paradise Papers, and the additional research conducted by Gabriel Zucman, Thomas Tørsløv, and Ludvig Wier, we know that a large share of the surplus captured by corporations is artificially shifted to tax havens all over the world. This, of course, is on top of the conspicuous tax evasion practiced by the individual holders of a large portion of the world’s wealth.  Read More »