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We knew that President Trump's 2017 tax bill favored US companies, but that's ridiculous.
According to a new study, a group of 60 Fortune 500 companies made nearly $ 80 billion in profits in 2018, but each owed $ 0 in taxes. Even worse, many of these companies have received discounts from Uncle Sam, totaling more than $ 4 billion.
the report, from the Institute on Taxation and Economic Policy (ITEP), presents some of the best-known names of US companies that face no tax bill, including oil giant Big Chevron ($ 4.5 billion). dollars in profits), the Dean of Netflix Technologies ($ 856 million), the titan Eli Lilly ($ 595 million) and the vigorous Industrial Goodyear Tire & Rubber ($ 440 million).
"The specter of large corporations that avoid all income taxes on billions of profits sends a strong and corrosive signal to Americans," write the authors, "that the tax system is imposed on them."
Below, according to ITEP, you will find a list of the 26 companies that have made profits of at least $ 1 billion but – thanks to the magic of the 2017 tax bill, to cryptic accounting practices, to special careers and tax shelters for businesses – paid nothing to the government. government on their income.
Company paying no tax: profit 2018
Amazon: $ 10.8 billion
Delta Air Lines: $ 5 billion
Chevron: $ 4.5 billion
General Motors: $ 4.3 billion
EOG resources: $ 4 billion
Western Oil: 3.4 billion dollars
Duke Energy: $ 3 billion
Dominion Resources: $ 3 billion
Honeywell International: $ 2.8 billion
Deere: $ 2.2 billion
American Electric Power: $ 1.9 billion
Kinder Morgan: $ 1.8 billion
Public Service Enterprise Group: $ 1.8 billion
Senior Financial: $ 1.6 billion
FirstEnergy: $ 1.5 billion
Prudential Financial: $ 1.4 billion
Xcel Energy: $ 1.4 billion
PulteGroup: $ 1.3 billion
Molson Coors: $ 1.3 billion
Devon Energy: $ 1.3 billion
Pioneer natural resources: $ 1.3 billion
DTE Energy: $ 1.2 billion
Wisconsin Energy: $ 1.1 billion
PPL: $ 1.1 billion
Halliburton: $ 1.1 billion
Ameren: $ 1 billion
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