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The current United States tax code allows some of the most profitable companies in the world to not pay any federal corporate income taxes. The present tax system aint fair. Actually, at least 55 of the largest corporations in America paid no federal corporate income taxes on their 2020 profits. And paid zero in federal taxes. Some of these companies include big names like FedEx, Nike, HP and Salesforce. These companies are not doing anything illegal, and these companies pay many other forms of taxes. If a large, very profitable company isnt paying the federal income tax, then we have a real fairness problem on our hands. And its costing the government billions. You can think about a bucket of corporate tax breaks that are deliberately there in the tax code. And overall, they cost the federal government roughly $180 billion each year. And for comparison, the corporate tax brings in about $370 billion of revenue a year. Those 55 corporations would have paid a collective total of $8.
