Posted In: Education Funding, Uncategorized
By Amanda Litvinov
For most Americans, it’s Tax Day. And while so many who play by the rules hustle to meet today’s filing deadline, some of the nation’s richest corporations won’t cough up a cent.
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We’re talking about companies that have been profitable every year since 2008, with some of them seeing record profits. We’re talking about companies that are able to contribute to the common good, but don’t.
Instead, they pay lobbyists to do everything they can to stack the deck in their favor.
“Corporate lobbyists incessantly claim that our corporate tax rate is too high, and that it’s not ‘competitive’ with the rest of the world,” said Robert McIntyre, the director of Citizens for Tax Justice. The organization’s latest report, The Sorry State of Corporate Taxes, debunks both of those claims.
“Most companies aren’t paying anywhere near 35 percent of their profits in taxes, and far too many aren’t paying any U.S. taxes at all.”
A new analysis from the National Education Association shows that in the end, students pay a hefty price for corporate welfare.
The $363.6 billion dollars that those companies alone did not pay between 2008 and 2013 would have resulted in an additional $15.6 billion to fund federal education programs that millions of students and their families rely on.
Here’s what it meant for four key federal education programs:
IDEA (Special Education Grants)
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