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Last week, Forbes magazine published what the top U.S. corporations paid in taxes last year.
“Most egregious,” Forbes notes, is General Electric, which “generated $10.3 billion in pretax income, but ended up owing nothing to Uncle Sam. In fact, it recorded a tax benefit of $1.1 billion.”
Big Oil giant Exxon Mobil, which last year reported a record $45.2 billion profit, paid the most taxes of any corporation, but none of it went to the IRS
It sounds complicated, but actually it isn’t. A tiny tax on bankers has the power to raise hundreds of billions every year – giving a vital boost to the NHS, our schools, and the fight against child poverty – as well as tackling poverty and climate change around the world.
Not complicated. Just brilliant.
Watch the short video - brilliant!
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