From DVP Action HQ <[email protected]>
Subject You probably paid more in federal taxes than Target and Amazon
Date May 21, 2024 3:16 PM
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Democratic Values is dedicated to supporting candidates who stand strong on their Democratic principles and stand up to the MAGA far-right extremists tearing apart our country. If you really want to receive only our most urgent emails, click here [[link removed]] . If you'd like to stop receiving these messages, you may unsubscribe: [link removed] .

Hardworking Americans pay more in federal income taxes than mega corporations like Target, Amazon and T-Mobile. You read that right.

Trump's 2017 tax scam passed cut corporate tax rates, enabling 109 major Americans corporations to pay $0 in federal taxes in some years. For example, in 2022, Target, Whirlpool, T-Mobile and Dish didn't pay a single dollar in corporate income taxes. In 2021, AT&T didn’t. In 2017 and 2018, Amazon didn’t either.

That means if you paid more than $0 in federal income taxes since 2017, you've paid more federal income taxes than some of America’s largest and most profitable corporations.

Our wealthiest corporations continue to pay little to nothing in federal income taxes as a result of Trump's tax overhaul, which he rigged to benefit himself and his wealthy friends and donors over working families.

Here's how we fix this. We've got to show our support for the Corporate Tax Dodging Prevention Act, introduced by Senator Bernie Sanders and Representative Jan Schakowsky, and demand that it be passed as soon as possible in both houses of Congress. Let's start right now — sign the petition to show your support. [[link removed]]

SIGN ON NOW » [[link removed]]

The Corporate Tax Dodging Prevention Act would prevent corporations from using off-shore tax havens, get rid of tax breaks for companies source labor overseas, and close loopholes in the tax code that allow corporations to get away with paying little to nothing in taxes.

Here are some specific actions this legislation would take towards economic equality:

*
Restore
the
top
35
percent
corporate
tax
rate
--
the
rate
that
was
in
place
from
1993-2017
*
End
the
rule
allowing
American
corporations
to
pay
a
lower
tax
rate
on
offshore
earnings
than
domestic
income
*
Close
loopholes
allowing
American
corporations
to
shift
income
between
foreign
countries
to
avoid
U.S.
taxes
*
Repeal
the
“check-the-box”
and
“CFC
Look-Thru”
offshore
loopholes
*
Prevent
multinational
corporations
from
stripping
earnings
out
of
the
U.S.
by
manipulating
debt
expenses
*
Stop
American
corporations
from
pretending
to
be
foreign
by
using
a
tax
haven
post
office
box
as
their
address.

Congress must put the interests of working Americans ahead of billionaires and corporations. It’s past time for ultra-rich corporations to pay what they owe in taxes, just like everyone else. [[link removed]]SIGN ON NOW » [[link removed]]

Thanks for taking action with us!

- Democratic Values Team

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