When the Institute on Taxation and Economic Policy revealed that 55 corporations paid zero federal income taxes for 2020, there was understandable anger. How do we allow this?
Well, that question was in part answered by Public Citizen who followed that report with their own research detailing how these 55 corporations spent nearly $450 million on lobbying and campaign contributions over the last three election cycles. So, when corporations hide behind statements of, “we’re just following the laws on the books” as their rationale for not paying their fair share of taxes, remember they are doing everything they can to ensure the laws on the books make it easier for them to pay nothing.
The Price of Zero
Public Citizen, June 09, 2021