Sanders Introduces Bill to Combat “Legalized Tax Dodging” for Corporations
Fact: The bill introduced by Sen. Bernie Sanders would allow the federal government to collect an additional .3 trillion in tax revenue over the next decade.
corporate greed
Why Big Corporations Get Special Tax Breaks and You Don’t, by Jim Hightower
– Free market ideologues justify corporate greed over public need by fabricating stories about how tax windfalls will be invested for the common good, but in reality, the money is simply pocketed by corporate executives.
– The Institute for Policy Studies analyzed financial data of 35 profitable corporations, including Tesla, T-Mobile, and Duke Energy, and found that they paid zero in federal taxes and received nearly billion in refunds over a four-year period.
– Asbestos, a cancer-causing product banned in over 50 countries, continues to be used in the U.S., causing the deaths of thousands of Americans each year, especially firefighters. Despite efforts to ban it, the EPA under Trump did nothing, but under Biden, a ban is set to take effect in twelve years due to industry lobbying.
– Political hucksters who push to eliminate regulations may be putting corporate profits over public safety, as seen in the case of asbestos. Trump has promised to eliminate regulations if elected again, raising concerns about who will benefit from such actions.