People say that big corporations don’t pay their fair share in taxes by using loopholes. What exactly are these tax loopholes?
In: Economics
Corporations do pay their fair share. The people who say they don’t pay taxes don’t understand how businesses are taxed. Businesses aren’t taxed a year at a time like individuals. If a company loses $1 million in 2020 and makes $1 million in 2021, their net profit is $0 and they have no tax liability either year. Then ignorant people scream that the company paid no taxes on a $1 million profit, when in reality their profit was $0.
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