John,
Corporate America just pulled off another heist, and they did it with the help of Trump’s tax law.
ATF’s new report shows that the Fortune 100 posted $1.2 trillion in profits last year, a staggering $100 billion increase from 2022.[1] Yet these companies didn’t reinvest in their workers or contribute adequately to the nation that helped make their success possible. Their collective workforce fell by 73,000 and they continued to dodge their fair share of taxes—assisted by $900 billion in business loopholes included in the recently enacted Trump-GOP budget.
This is a full-on policy failure. These outcomes are exactly what Trump and his billionaire backers designed when they rewrote the tax code back in 2017—a rewrite recently made permanent
Your support powers our investigations, reports, and rapid response campaigns to dismantle this rigged system. Fight back with a contribution today.
They tell us “corporate tax cuts trickle down.” But the data says otherwise: families are barely getting by while the wealth of billionaire shareholders is skyrocketing.[2]
This is class warfare, waged by boardrooms against Main Street. And working people are losing that war.
Help us call out this con, demand accountability, and push for real tax reform that puts workers ahead of Wall Street. Donate now to support our work.
Let’s expose the greed and demand real change.
John Foti
Legislative Director
Americans for Tax Fairness Action Fund
[1] FORTUNE 100 PROFITS JUMPED BY $100 BILLION OVER PAST YEAR
[2] Total Billionaire Wealth Tops $7 Trillion
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John,
America’s 100 biggest corporations raked in $1.2 trillion in after-tax profits last year, a $100 billion jump over the previous year. But instead of raising wages, creating jobs, or paying their fair share in taxes, these corporate giants reduced employment and continued to dodge taxes—aided by $900 billion in loophole openers in the recently enacted Trump-GOP budget.[1]
And that’s just this past year.
Since the first Trump-GOP tax law passed in 2017, Corporate America has enjoyed record profits while dodging their fair share of taxes. That corporate tax avoidance translates into billions of dollars in lost revenue for schools, infrastructure, and healthcare, while CEOs and investors grow ever richer.
This isn’t an accident. It’s the predictable outcome of a tax code rewritten by billionaires for billionaires.
We’re fighting to end this ongoing corporate heist. Your support helps us to hold the Fortune 100 accountable, push to stop more corporate tax giveaways, and fight for a tax system that actually works for working families.
Pitch in now to help us ramp up pressure on lawmakers, flood the media with the truth, and stop the next corporate tax scam before it starts.
They told us the 2017 tax cuts would create jobs and raise wages. Instead, we got layoffs, stock buybacks, and record inequality.
An astonishing 93% of corporate stock is owned by the wealthiest 10%, with half owned by the richest 1%.[2] This means when we cut corporate taxes ordinary families are subsidizing wealth transfers to multimillionaire and billionaire shareholders—even as they struggle to keep up with rent and groceries.
Americans for Tax Fairness is leading the charge to repeal Trump’s corporate tax cuts; raise taxes on stock buybacks; and finally tax the wealth gains of billionaires, which often takes the form of high-flying stock portfolios. But we can’t do it without your help.
Chip in now to help us expose the corporate greed driving this crisis, hold the Fortune 100 accountable for their tax avoidance and layoffs, and demand a fair tax system that puts working families first, not billionaire shareholders.
Let’s stop letting corporate CEOs dictate the shape of our economy and start building one that works for the rest of us.
John Foti
Legislative Director
Americans for Tax Fairness Action Fund
[1] FORTUNE 100 PROFITS JUMPED BY $100 BILLION OVER PAST YEAR
[2] The wealthiest 10% of Americans own 93% of stocks
