Biden roasts 55 companies like Nike and FedEx for paying less in taxes than the price of a cup of coffee
President Joe Biden is once again calling out corporations for paying nothing in income tax, comparing their IRS bill to the price of your morning caffeine fix. on Twitter."If you spent $3 on your coffee this morning, that's more than what 55 major corporations paid in taxes in recent years. It's wrong — and it's got to change."
The barb comes as Democrats begin to hammer out their final party-line infrastructure package, which would be paid for by increased taxes on corporations and the wealthiest Americans. To make the case, he's referencing one of his favorite talking points when it comes to the corporate tax: Multinational corporations who paid $0 in income taxes. An April
from the left-leaning Institute on Taxation and Economic Policy found that 55 corporations including Nike and FedEx paid no federal income taxes on their 2020 profits, despite raking in nearly $40.5 billion in pretax income.
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