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Effective tax rates before and after the Trump tax law:
Verizon
Before: 21%
After: 8%
Walmart
Before: 31%
After: 17%
AT&T
Before: 13%
After: 3%
Walt Disney
Before: 26%
After: 8%
FedEx
Before: 18%
After: 1%
This is what a corporate giveaway looks like.
@rbreich Mind boggling. #voteharriswalz
@rbreich I don't think that #KamalaHarris economic plans will set it back to before #DonaldTrump , which means corporations will still win.
@SammyGalen @rbreich Biden didn't, so why should she?
@ditol @rbreich Because #KamalaHarris is smarter than either #JoeBiden or #DonaldTrump .
@rbreich If you ever wanted to know what it was like to live in the Gilded Age?
Look around.
@rbreich They PROFITTED by BILLIONS of money that could of helped people 
@rbreich Million & Billionaires went from SINGLE digit numbers of profit to DOUBLE and TRIPLE DIGIT numbers.. which CAUSED a domino effect ...NOT UP ...BUT DOWN to ALL IN NEED..
MAKING MIDDLE & LOWER CLASSES EVEN LOWER
MORE CRIMINAL ACTIONS FOR SURVIVAL
NONE OF IT IS OF ANY GOOD ...INCREASES 1% TO 2%
@rbreich
did Biden roll it back?
No wonder all Americans are rich, now that all that has had time to trickle down.
</sarcasm>
@rbreich So, in essence, by providing these breaks we let corporations use all the infrastructure that the people’s taxes pay for and artificially reduce their cost of doing business.
This is why the stock market is a terrible way to gauge the well being of the general populace. The worse the average person does, the better the wealthy do with their capital gains.
The current administration somehow make the rich money AND made it better for the rest through increased wages. Pretty dope
@rbreich I'm not sure what financial years you are quoting but Verizon's effective tax rate in 2023 was 28.8% and in 2022 23.1% as per their latest 10-k
@theothersimo @rbreich OK thanks. but that is not a calculation that one would typically perform to determine the effective tax rate. Gross profit does not take into account opex, interest, depreciation or armortisation.
@theothersimo @rbreich I was merely pointing out a misrepresentation of the effective tax rates in the original post.
The "before" tax rates look pathetically low for such corporate giants. The "after" rates look corrupt.
@rbreich And they raised prices after the tax cuts.
@rbreich Billionaires love the gop. Socialism for the rich, and fuck everyone else.
@rbreich
Corporations never pay taxes. They only collect taxes.
@rbreich
All while they rip us off daily...
@rbreich That, and how they're very obviously dividing the market up by using our shopping lists against us. I suspect consumer shopping list data sharing (even if our pii is stripped from them). It's very difficult to find all the things I need at a reasonable price at just one online store anymore. I am forced to divide my shopping list up between Walmart, FredMeyer (through Instacart), and Amazon. That sticks me with extra fees and so on, left and right, for each store. It didn't used to be that way. That's is anti-trust, not real competition. I think it's on purpose. Just like what landlords are doing with that RealPage software.
The rich keep getting richer while they force the rest of us into ever spiraling poverty.
@rbreich I think it should be called “socialism for corporations” MAGA should recognize that terminology!
Get rid of corporate welfare