Whenever I see a story in the MSM about the poor goliath corporations who are struggling because they pay too much in taxes, my bullshit meter starts flashing red. The mega-corporations currently have the highest profits as a percentage of GDP in U.S. history. The mega-corporations control the politicians in Washington DC and state houses around the country. They write the tax laws and create the loopholes that keep them from incurring taxes.
The storyline is disingenuous, as they peddle charts like the one below showing statutory rates. These are the top rates that could be paid. Are these the actual rates paid by mega-corporations? Not a fucking chance. These parasitical mega-corps have armies of tax lawyers, tax accountants, and lobbyists making sure they don’t pay anything near 39.1%. These charts are produced by organizations funded by mega-corporations to make it seem like these corporations need lower tax rates.
The reality is that mega-corporations are paying the lowest effective tax rate in U.S. history. Those congressional bribes are really paying dividends for the corporate CEOs and their lackeys. All time high profits, bonuses, and stock buybacks. But that isn’t good enough. They want more. They are never satisfied. Meanwhile, the little guy sees their income taxes, sales taxes, real estate taxes, tolls and thousands of government fees rise relentlessly. We don’t have lobbyists and lawyers fighting for us. Small businesses are effectively put out of business by mega-corps who write the laws, regulations and tax code. Don’t believe the baloney peddled by the corporate media about overburdened mega-corps.