We can #TaxBillionaires to pay what they owe with @POTUS’ proposed billionaires tax, starting with Jeff Bezos’ $35 BILLION bill.
— Women's March (@womensmarch) April 17, 2022
This tax day, we’re sending his past-due bill in the mail. Join us: https://t.co/DI7lB9u52X
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
