Cartoon: America’s ‘Zero’ Technique

China’s “zero Covid” coverage has sparked rare protests across the nation of practically a billion and a half folks. Which led me to consider our very personal failed “zero” coverage right here in the USA. Zero company tax. To be honest, it’s not a coverage per se, however is clearly an aspiration that has been achieved.

Scores of giant companies — which have been having fun with report income — have paid nothing in federal income tax over the previous few years. By no means thoughts the discount basement charges of 30% and even 15%, these multibillion dollar corporations are paying 0%, or even a negative rate (which after all interprets to a refund).

Luckily, the Inflation Reduction Act put a minimum corporate tax of 15% into impact — though companies are nonetheless making an attempt to save earlier tax breaks. In the meantime, the expanded baby tax credit score (which created the most important ever recorded drop in baby poverty) was chopped and company income proceed to roll in.

Possibly there’s a parallel universe on the market the place companies who’ve achieved their huge fortunes don’t do every part they will to keep away from contributing to the society that provides them these huge fortunes?

And talking of huge fortunes . . .

‘In case you’ve been having fun with my cartoons, join me on Patreon, where you can get prints, exclusive videos and other goodies — all while you help support my work!