Date: 2024-12-21 Page is: DBtxt003.php txt00017751
US Taxation
Corporations underpay!
Tax dodger FedEx paid $0 in taxes on $4.6 billion in profits.
Peter Burgess
Craig Johnson
9:26 AM (41 minutes ago) to me
Peter,
Billionaire Fred Smith, founder and chairman of FedEx, lobbied hard in 2017 (along with another 7,000 corporate lobbyists) to slash the taxes paid by big corporations. And boy, did it work―the corporate tax rate plummeted from 35% to 21%.
Now, a new bombshell New York Times report shows that FedEx paid $0 in taxes on $4.6 billion in profits in 2018.[1] And FedEx isn’t alone.
Sixty corporations―including familiar names like Amazon, IBM and Netflix―avoided paying any federal income tax in 2018, thanks in large part to the Trump-GOP tax scam.[2]
Fight back! Pitch in $5 or more to Americans for Tax Fairness to hold greedy tax dodging corporations accountable and demand a Fair Share Tax System where the rich and corporations contribute to the future of our country Thank you,
Craig Johnson
Digital Director Americans for Tax Fairness
[1] “How FedEx Cut Its Tax Bill to $0,” New York Times, Nov. 17, 2019
[2] “Corporate Tax Avoidance Remains Rampant Under New Tax Law,” Institute on Taxation and Economic Policy, April 2019
---------- Forwarded message ---------
From: Frank Clemente
Date: Thurs, Nov 21, 2019
Subject: Tax dodger FedEx paid $0 in taxes on $4.6 billion in profits. Please read >>>
Peter,
Who’s benefiting from Trump’s $1.9 trillion tax scam for the rich and corporations? It’s not working families….
This week, the New York Times broke the following story:
Not only is FedEx paying $0 in taxes on its $4.6 billion in profits in 2018, they’re owed a refund![1]
Americans for Tax Fairness is leading the charge against corporate tax dodgers like FedEx and demanding a Fair Share Tax System that works for all of us, not just the rich and corporations.
FedEx and other multinational corporations marshaled an army of 7,000 lobbyists to ram the Trump-GOP tax scam through Congress two years ago.[2] They had a huge win: the GOP slashed the corporate tax rate down from 35% to 21%.
Corporations claimed their big tax cuts would create a lot more jobs and much higher wages. It hasn’t happened, of course.
In fact, FedEx and many other big corporate winners of the Trump-GOP tax scam have spent less on investments to benefit their workers and businesses since the tax scam was signed into law. Instead, they’ve used their tax refunds to shower their wealthy shareholders with new-found riches in the form of much higher CEO pay and massive stock buybacks.
The Americans for Tax Fairness coalition is your small band of warriors leading the fight against this corporate onslaught.
Donate to Americans for Tax Fairness today to help us fight corporate greed and tax dodging and demand a Fair Share Tax System that works for all of us, not just the wealthy few.Donate to Americans for Tax Fairness today to help us fight corporate greed and tax dodging and demand a Fair Share Tax System that works for all of us, not just the wealthy few.
Together, we’re changing the national conversation away from a tried-and-failed trickled down tax system and toward one that invests in working families.
Thank you,
Frank Clemente
Executive Director Americans for Tax Fairness
[1] “How FedEx Cut Its Tax Bill to $0,” New York Times, Nov. 17, 2019
[2] “Final Tally: More Than 60 Percent of Federal Lobbyists Worked on Tax Issues in 2017,” Public Citizen, Jan. 30, 2018
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