John,

This week, CEOs from some of the country’s largest corporations stated that shareholder income cannot be the only “purpose of a corporation.” They are committing to also care about their “stakeholders,” which means compensating employees fairly, protecting the environment and “supporting the communities in which we work.”[1]

I guess that doesn’t mean paying their fair share of taxes. You see, 21 of the 180 corporate signers of the statement paid ZERO federal income taxes last year thanks to the #GOPTaxScam they helped ram through Congress. They collectively made $39 billion in U.S. profits in 2018 and got a $2 billion federal income tax rebate.[2]

And let’s not forget, CEO pay is 278 times that of the average worker and CEO pay at the top 350 corporations was, on average, $17.2 million in 2018.[3]

We haven’t seen this level of income and wealth inequality in the U.S. since just before the Great Depression. And the recent headlines, warning of another possible recession, are making businesses uneasy.

Of course, these are the same corporations that rammed the Trump-GOP tax scam through Congress, which gave them a 40% tax cut that lined the pockets of their CEOs and wealthy shareholders, not their workers. They are the same corporations that have pushed for excessive pay for their executives without investing in U.S. workers.

So, let’s not think for a second that these rich corporations are making this statement because they’re all of a sudden interested in doing the right thing. They are, as always, concerned with their bottom line, including their public image.

The first thing big corporations must do to benefit all their stakeholders is to pay their fair share in taxes to allow the United States to invest in our country’s future so we can create an economy that works for all of us.

Read Frank’s email below and then sign the petition demanding Congress repeal the #GOPTaxScam, which handed $1.9 trillion in tax cuts, mostly to the rich and big corporations.

Thank you for standing up and holding big corporations accountable to the American people.

Craig Johnson

Digital Director
Americans for Tax Fairness

[1] “Shareholder Value Is No Longer Everything, Top C.E.O.s Say,” New York Times, August 19, 2019

[2] “Business Roundtable’s Newfound Devotion to Corporate Responsibility Doesn’t Include Paying Taxes,” Institute on Taxation and Economic Policy, August 20, 2019.

[3] “CEO compensation has grown 940% since 1978,” Economic Policy Institute, August 14, 2019

---------- Forwarded message ---------
From: Frank Clemente
Date: Sat, Aug 17, 2019
Subject: The Trump Economy: Tax Cuts for the Rich, a recession for everyone else

John,

Have you seen the latest economic news? Headline after headline is screaming RECESSION IS COMING! Odd, don’t you think, since the GOP promised us untold economic success when they gave $1.9 trillion in tax cuts, mostly to the rich and big corporations? Yet here we are today with headlines like this:

We were told that cutting taxes for the wealthy and big corporations would BOOST investment, wages and jobs. It would be like “rocket fuel” for the economy. Instead, it’s not even unleaded regular. Tax cuts for the wealthy and corporations don’t trickle down to the rest of us.

Now we’re staring down a coming RECESSION. And the ballooning deficits from the Trump-GOP tax cuts will make it much harder for the government to boost spending to counteract the effects. Again, working families will pay the price of giveaways to the rich and big corporations.

Want to fight back? Sign our petition to Congress before it’s too late to demand they repeal the #GOPTaxScam, which gave trillions mostly to the rich and corporations.

The rich got away with rigging the economy in their favor. Now, if we enter into a recession, working Americans will bear the brunt of it, and the GOP will once again fein concerns over the growing deficit and demand even steeper cuts to earned benefits and public services that working families rely on.

Just look at Kansas. After giving huge tax cuts to the rich and corporations, the state incurred giant budget shortages and an economic recovery rate well below the national average. Oops. After reversing their disastrous tax cuts, the state rose 16 places in the rankings for top states for business, and quickly regained a budget surplus. [1]

Perhaps we can turn our economy around like Kansas did.

Join us today and tell Congress: repeal the #GOPTaxScam and get the economy working again -- for ALL of us, not just the rich and corporations.

The GOP’s constant tax cuts for wealthy special interests always fail the rest of us. And when they inevitably call for the next round of cuts to earned benefits and services that working families rely on, we’ll know what to do -- make the rich and corporations pay their fair share of taxes.

Thank you for standing with our movement.

In Solidarity,

Frank Clemente
Executive Director
Americans for Tax Fairness

[1] “The comeback state of 2019: Kansas economy rebounds from tax-cutting disaster,” CNBC, July 10, 2019