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Negative effective tax rate for many companies

Consider the swamp drained. Another campaign promise fulfilled by Trump.
I'm sure Mexico will be writing us a 5 billion dollar check for the wall soon too.

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Alfalfa said:
This is honestly crazy. If Trump wins another term, the top 1% will have ALL the money.
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Yep. That makes sense.
We will all just be working our jobs and the 1% will be the only ones buying anything. We wont even be able to eat because we wont have any money to buy food. We will become breatharians. And all the the good and services we produce will go in the giant basements of people with houses the sizes of cities
 
Alfalfa said:
I'm sure you've heard of the report released today about the effects of Trump's tax cuts on business tax rates.

https://itep.org/notadime/

Not only did many highly profitable companies pay $0 in taxes, but many got an astounding amount back! They are literally stealing the our money. Literally. But hey, they provide jobs!

Build that wall! Build that wall!
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Wait.

You actually thought that MAGA meant racist things and not boosting the greatness of American industry?
 
From what I understand, GM obtained their massive tax loss carry forward under Obama's special deal for them, when the government owned 60% and the union owned 17.5%.

Reporting loss against profit isn't exactly tax avoidance now is it.
 
Its all good though, i mean ya these wealthy corporations are getting to keep more money than ever but thats a good thing cause that means they can give us all awesome raises! I got a 25 cent raise this year! My health insurance went up by almost 100 dollars per month and my mortgage increased along with basically the price on everything else so the 25 cent raise is actually more like a dock in pay. But at least i can work even more overtime than i already was to make up for the loss in pay! Yippee!


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idestroyedthetoilet said:
From what I understand, GM obtained their massive tax loss carry forward under Obama's special deal for them, when the government owned 60% and the union owned 17.5%.

Reporting loss against profit isn't exactly tax avoidance now is it.
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And all of those other companies that aren't GM?
 
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