Sen. Sanders called out seven major companies that also payed no federal income taxes in 2020.
the Institute on Taxation and Economic Policy , at least 55 major U.S. corporations — including those named by Sanders — paid $0 in federal taxes on massive profits in 2020.
In all, that’s $12 billion less in taxes paid by some of the most profitable and largest companies in the nation.states how “massive losses and large tax deductions in Donald Trump’s returns reveal how the former president was able to use the tax code to minimize his income tax payments.” According to the outlet:
The documents further show the sheer complexity of the tax code. As for many US business owners, the filings span hundreds of pages to account for domestic and foreign assets, credits, deductions, depreciation, and more.