The Spark

the Voice of
The Communist League of Revolutionary Workers–Internationalist

“The emancipation of the working class will only be achieved by the working class itself.”
— Karl Marx

Who Pays Taxes?

Mar 20, 2023

While we wait for a few hundred or a thousand dollars of our own money to come back from the IRS, really wealthy people get hundreds of thousands or millions of dollars as tax refunds or tax credits to use in the future.

But the real problem is corporate taxes. That’s if the company lacks accountants who creatively get them out of paying any taxes. Fifty years ago, corporations paid more than double in taxes than they do today.

Today corporations pay SEVEN percent of all federal taxes collected and individuals pay 50% of all federal taxes. Congress protects corporations and their wealthy contributors. Too bad if our children’s schools need heat or air conditioning. Too bad if we cannot pay for another car while the old one falls into pot-holes.

In 2021, before last year’s staggering increase in prices and profits, Amazon and JPMorgan Chase paid only 6% in taxes! Exxon Mobil paid 3%; Ford and GM paid under one percent in taxes, and dear old AT&T got back 4% in tax credits!

When Jesse James was asked why he robbed banks, he answered, “that’s where the money is.” Anyone can see where the money is today.