Low Corporate Taxes Never Benefits Regular Americans...
Fact:
The US is actually number 1 in oil & gas production - yet it doesn't benefit Americans enough...
Shell, for example, produces 20% of its fuel in the US & pays some $16 Million (2024) in corporate income taxes...
That's 0.15% of its global income tax bill of 11 Billion!
Again, the US is the largest oil & gas producer in the world - yet, we rank 7th on the income taxes collected from fuel companies...
Put another way, Brazil produces ¼th the amount of oil & gas that America makes - yet, ranks 3rd in taxes collected from Big Oil.
And, all the major fuel companies operate in the 6 nations that are ahead of us on income tax collection.
Yet, the GOP says that we shouldn't tax these companies - cause they might leave & create jobs elsewhere...
But, these companies still create jobs in these other countries & pay the higher taxes as well!!
As the number 1 oil & gas producer, the US should also be taxing these companies a lot more.
Enough that it actually benefits regular voters.
Otherwise, we'll end up paying more taxes - to cover someone else's tax bills...
(Oh wait. We're doing that already...)
These companies aren't going anywhere - that's just a Republican lie & scare tactic.
They're perfectly happy operating in these other countries - paying the higher local taxes, which in turn, benefits more citizens...
But elitists, racists & conservatives want low taxes to only benefit the Rich & their big companies - not the average citizen.
The End -
For Now!