The New York Times:
For decades, profitable companies have been able to avoid corporate taxes. But the list of those paying zero roughly doubled last year as a result of provisions in President Trump’s 2017 tax bill that expanded corporate tax breaks and reduced the tax rate on corporate income.
On the heels of the tax package that gave a boost to the country’s wealthiest, corporations returned much of their tax-cut-fueled earnings back to shareholders in the form of stock buybacks and juicier dividends. Goldman Sachs said $1 trillion in buybacks, a record, were authorized in 2018. More granularly, S&P Dow Jones Indices estimated in May that corporations spent $564 billion on buybacks and $428 billion on dividends in one year through that month.
This summer, we experienced firsthand what a scam America’s hospitals have become. In July, one of our staffers skidded off his bicycle. Se he decided to visit St. Rose San Martin’s emergency room, a local Las Vegas hospital. Total bill for a 90-minute wait and 30-minute exam? A whopping $3,094, excluding x-ray charges.