Eight months since the tax cuts were passed in December 2017, here’s what the data show: Corporate profits up, corporate tax revenues down (Figure 1): In the second quarter of 2018 (six months after the tax cuts passed in December 2017), corporate after-tax profits were 16% higher than a year earlier in the second quarter […]

Medicare & Medicare 53rd Anniversary National and State-by-State reports

Our national and state-by-state reports about Medicare and Medicaid, in honor of its 53rd Anniversary. National Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York […]

The Pharma Big 10: Price Gougers, Tax Dodgers

View the Full Report in PDF here. TOPLINES The report examines the profits, taxes, and drug prices of the 10 biggest U.S. pharmaceutical companies, the “Pharma Big 10”: Johnson & Johnson, Pfizer, Merck & Co., Gilead Sciences, AbbVie, Amgen, Eli Lilly & Co., Bristol-Myers Squibb, Biogen and Celgene. Between 2011 and 2015, the Pharma Big 10 […]

Gilead Sciences: Price Gouger, Tax Dodger

Press Release: New Report: Taxpayer-Supported Gilead Sciences Is Price Gouging the Public, Then Dodging Taxes on the Huge Profits 7/13/2016 ATF Report Highlights: Gilead Sciences: Prices Gouger, Tax Dodger 7/13/2016 Full Report in PDF 7/13/2016 Shareable graphics on the Gilead report click here. Irish Media Confirms ATF Claims About Gilead Science’s Massive Profit Shifting 8/22/2016 Huffington Post Piece on […]

Pfizer: Price Gouger, Tax Dodger

Pfizer, one of the world’s largest pharmaceutical companies and more profitable companies, is attempting to permanently dodge tens of billions of dollars of U.S. taxes it currently owes through a merger with fellow drug firm Allergan, based in the tax haven of Ireland. While technically not a corporate inversion, this maneuver will provide Pfizer with […]

Pfizer’s Tax Dodging Rx: Stash Profits Offshore

Pfizer, one of the world’s largest pharmaceutical companies, has announced that it has entered into preliminary discussions with the Irish corporation Allergan to effect a business combination, which most observers assume would be structured as an “inversion” transaction. An inversion would allow Pfizer to renounce its U.S. tax citizenship while retaining its current U.S. headquarters, management structure […]

Carl Icahn’s Latest Investment: Corporate Tax Dodging

Sometimes the smartest investment a Wall Street billionaire can make is in our pay-to-play political system. That’s why legendary wheeler-dealer Carl Icahn plans to fund a campaign to promote a huge corporate tax cut — one that could personally enrich him by up to $440 million (and maybe more). With that kind of payoff, the […]

Raising Revenue Must Be Central Goal of Budget Talks

Budgets are made up of spending and revenue. But budget negotiators in Washington are talking only about what spending to cut, not what revenue to raise — even though there are gaping tax loopholes to close. Closing them would eliminate the need to cut critical services that benefit tens of millions of Americans and would […]

Vintage Ethics: Etsy Crafts an Offshore Tax Dodge

  Who knew a New Age crafts seller could be so, well, crafty? Etsy, the online marketer of handmade earrings, vintage watches and millions of other precious items, proudly brands itself a socially responsible corporation. But when it comes to the socially responsible act of paying its fair share of taxes, Etsy is decidedly old […]

5 Tax Myths You’ll Hear During Republican Presidential Debate

We tune into presidential debates for the surprises (who knew Rick Perry couldn’t count to three?), but most of what happens is all too predictable. At a GOP debate, you can be sure taxes will be a hot topic. After all, what ailment can’t be cured with a tax cut? Here are some perennial Tax […]