Americans for Tax Fairness • AFL-CIO • Americans for Financial Reform • Communications Workers of America • Economic Policy Institute • Institute on Taxation and Economic Policy • United Auto Workers June 28, 2019 The Honorable Richard E. Neal Chairman, House Committee on Ways & Means U.S. House of Representatives Washington, D.C. 20515 The Honorable […]
Americans for Tax Fairness • AFL-CIO • Americans for Financial Reform • Communications Workers of America • Economic Policy Institute • Institute on Taxation and Economic Policy • United Auto Workers June 28, 2019 The Honorable Charles Grassley Chairman, Committee on Finance U.S. Senate Washington, D.C. 20510 The Honorable Ron Wyden Ranking Member, Committee on […]
April 8, 2019
COSTLY CORPORATE TAX CUTS BENEFIT FEW WORKERS
Table of Contents INTRODUCTION.. 1 Figure 1: Corporate Tax Revenues Collapse from TCJA.. 3 Figure 2: Corporate Profits Up, Corporate Tax Revenues Down. 3 Figure 3: Few Employers Have Announced Raises or One-Time Bonuses. 4 Figure 4: Corporate Tax Cuts Going Mostly to Wealthy Shareholders & CEOs. 4 EXAMPLES OF HOW CORPORATIONS ARE SPENDING THEIR […]
October 10, 2024
Corporate Closeups
Read full report here. A Dirty Dozen of Big Corporations That Underpay Their Taxes, Overpay Their Executive & Shareholders, and Otherwise Harm The Public Good Much like billionaires and other super-rich individuals, massive corporations in the U.S. have spent years pushing for legislation to lower their taxes. In 2017, the Trump-GOP Tax law cut the corporate […]
Next Step in Major Corporate Tax Reform from Inflation Reduction Act The U.S. Department of the Treasury and Internal Revenue Service issued a Notice of Proposed Rulemaking today to implement the Inflation Reduction Act’s Corporate Alternative Minimum Tax (CAMT). Per the Treasury, the CAMT only applies to large corporations that average more than $1 billion […]
August 29, 2024
How the Tax Code Benefits the Wealthy Over Workers
Workers Are Taxed at a Higher Rate Than Wealthy Households & Corporate Executives Income earned from wages is consistently taxed at a higher rate than comparable amounts of income earned passively through capital gains or dividends. The top federal marginal tax rate on long-term capital income is 23.8% while the top marginal ordinary income and […]
August 29, 2024
On Labor Day: How The Tax Code Benefits The Wealthy Over Workers
On the eve of Labor Day weekend, Americans for Tax Fairness (ATF) has issued a paper on the many ways the tax code fails to honor employees and instead privileges the big corporations and wealthy individuals they work for. “On Labor Day—a time set aside to honor the working people of America—the privilege our tax […]
Though most of the 2017 Trump-GOP tax law expires at the end of 2025, certain provisions governing how corporations deduct expenses have already expired. These changes have resulted in corporations paying higher taxes over the past few years, so Republicans want to retroactively reverse them as part of their effort to permanently extend the whole […]
Read the full report here. Introduction All but a handful of 280 large, profitable corporations spent more money making their wealthy shareholders richer through dividends and stock buybacks than they paid in federal income taxes in the five years after the enactment of the Trump-GOP tax law, according to a new analysis by Americans for […]
Read the full report here. Introduction On this Tax Day 2024—the deadline for working Americans to settle up with Uncle Sam–neither the nation’s richest individuals nor its biggest corporations are paying their fair share of taxes. Simply put, the U.S. tax code is rigged against ordinary people. Many billionaires and big, profitable corporations go tax-free […]