When corporations don’t pay their fair share in taxes, the rest of us get screwed

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As reported by the Huffington Post, America’s ten most profitable corporations paid an average income tax rate of just 9% last year. The top two corporations not paying their fair share in taxes are oil companies – with ExxonMobile – the most profitable corporation in the history of the world paying a mere 2% income tax rate – and Chevron paying 4%. Those numbers clock in well below the 35% income tax rate corporations should be paying in America, but almost never do.

Over the last few decades, corporate taxes as a share of government revenue have plummeted, forcing working people to pay more and more taxes to cover the gap. Plain and simple, giving tax breaks to corporations that pollute our skies, offshore our jobs, and deny us healthcare is not just crazy – it’s immoral.

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Who Should an Economy Serve?

The top one percent own half of all the world's assets. In stark contrast, the bottom fifty percent of the world owns less than one percent. According to the 2014 Global Wealth Report from Credit Suisse, global inequality has surged since the 2008 financial collapse. The report explains that while global wealth has more than doubled since the year 2000, the vast majority of overall growth has gone to those who were already wealthy.

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