Of Course Trump Is Helping Coal Companies Dodge Taxes
April 9, 2017
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6:00Now PlayingOf Course Trump Is Helping Coal Companies Dodge Taxes
YouTube Description
as posted by the channelTaxes are for normal people like you, not rich people! Cenk Uygur, host of The Young Turks, breaks it down. Tell us what you think in the comment section below.
"These industry-specific subsidies mean that the goodies were not evenly distributed. Utilities logged an effective tax rate of just 3.1 percent over the eight-year period. Industrial machinery, telecommunications and oil, gas and pipeline companies paid roughly 11.5 percent. Internet services paid 15.6 percent. In just two sectors — health care and retail — companies paid more than 30 percent of their profits in federal income tax.
“One of the things that jumps out pretty starkly is there’s a real gap between the tax rates paid by different industries,” said Matthew Gardner, a senior fellow at the institute and a co-author of the study. “When the biggest companies aren’t paying their fair share, that means the rest of us are left to pick up the slack. It means small business and middle-income families are paying more.”
But Tara DiJulio, a spokeswoman for General Electric, called the report “deeply flawed and misleading.””*
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Hosts: Cenk Uygur
Cast: Cenk Uygur
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Young Turk (n), 1. Young progressive or insurgent member of an institution, movement, or political party. 2. A young person who rebels against authority or societal expectations.(American Heritage Dictionary)
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