On Tax Day Groups Echo President’s Call for Corporations And The Wealthiest Americans To Pay Their Fair Share

As millions of Americans prepare to meet Monday’s tax deadline, some groups are using Tax Day to call for Billionaires like Jeff Bezos and Elon Musk to pay their fair share.

The Women’s March was among the groups supporting President Biden’s proposed billionaires’ tax.  

According to a CNBC report, several corporations continue to avoid paying federal corporate taxes on profits. While it is not technically illegal, at least 55 major corporations pay no corporate taxes.  

Chye- Ching Huang, executive director of the Tax Law Center at NYU Law School, said that the corporate tax breaks are intentional.  

“Overall, they cost the federal government roughly $180 billion each year. And for comparison, the corporate tax brings in about $370 billion of revenue a year,” Huang told CNBC. “The federal government estimates that there’s about 40 billion each year in corporate taxes that are clearly owed.” Continue Reading

(SOURCE) https://newsone.com/4322087/tax-day-groups-echo-presidents-call-for-corporations-and-the-wealthiest-americans-pay-fair-share/


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