Is it for the same reasons the US Treasury is in dire need of the CFC's Trillion $$$ parked in Offshore Tax Havens, so as to balance the Budget?However, CONGRESS LEGISLATED that PUERTO RICO a US Territory be an AMERICAN OFFSHORE TAX HAVEN!! No one consulted the people of Puerto Rico!
THESE US CORPORATIONS SOMETIMES OPERATE A SMALL BUSINESSES IN PUERTO RICO, AND STILL MAY DEDUCT ALL THEIR OPERATING EXPENSES IN THE WORLD. THEY DO NOT PAY TAXES TO THE IRS OR TO PUERTO RICO!
That is why we support President Trump's position on taxing Corporate Welfare Corporations and we demand, as US citizens, that Puerto Rico has a right to be treated the same as the other 50 States! INCORPORATE PR IN THE TAX REFORM!
Then, our economic problems will start to be solved. You can't survive when only the working class pays taxes!
MJ
_____________________________________________________________________________
Trump wants to slash America’s corporate tax rate, but that rate is a myth. Here are 100 companies that prove it.
By and |
POLITICO
Coming on the heels of his stalled health care push, President Donald Trump now turns his attention to a radical overhaul of the U.S. tax code, promising sweeping cuts for both the middle class and corporate America.
The full details of the president’s plan still are largely unknown, but Trump has zeroed in on the corporate tax rate. Conservative lawmakers have long complained that the U.S. corporate tax rate is too high. The president is pushing to slash it from 35 percent to 15 percent.
… but that doesn’t mean companies pay those tax rates in full. In fact, some don’t pay any taxes at all.
The Institute on Taxation and Economic Policy examined 258 Fortune 500 companies that were profitable from 2008 to 2015 and found 100 companies paid zero — or less — in federal income taxes for at least one year. Some companies like PG&E (Pacific Gas and Electric Company) didn’t pay taxes at all. Plus, many received some form of a tax rebate from the U.S. Treasury, often totaling hundreds of millions of dollars.
Company
|
Rebate
|
No taxes
|
PG&E Corp.
|
$1.6 B
|
* * * * * * * *
|
Pepco Holdings
|
$852 M
|
* * * * * * *
|
Wisconsin Energy
|
$681 M
|
* * * * * * *
|
NiSource
|
$384 M
|
* * * * * * *
|
Duke Energy
|
$482 M
|
* * * * * * *
|
FirstEnergy
|
$821 M
|
******
|
Atmos Energy
|
$122 M
|
******
|
NextEra Energy
|
$334 M
|
******
|
Priceline.com
|
$38 M
|
*****
|
PPL
|
$224 M
|
*****
|
Ameren
|
$257 M
|
*****
|
Boeing
|
$1021 B
|
*****
|
Ryder System
|
$60 M
|
*****
|
Sempra Energy
|
$175 M
|
*****
|
CMS Energy
|
$33 M
|
*****
|
Reinsurance Group of
America
|
$276 M
|
****
|
American Electric Power
|
$806 M
|
****
|
Interpublic Group
|
$63 M
|
****
|
Consolidated Edison
|
$252 M
|
****
|
Xcel Energy
|
$195 M
|
****
|
Dominion Resources
|
$176 M
|
****
|
Cablevision Systems
|
$11 M
|
****
|
Corning
|
$14 M
|
****
|
International Paper
|
$1 B
|
***
|
General Electric
|
$4.7 B
|
***
|
Facebook
|
$429 M
|
***
|
State Street Corp.
|
$891 M
|
***
|
MORE INFORMATION AT:
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