Fifty-five American corporations — including Amazon, FedEx and Nike — paid zero taxes in 2020, despite substantial profits during the pandemic. Democrats want these corporations, and the ultra rich making a billion dollars for three consecutive years or $100 million annual income, to pay their fair share of taxes.
Roughly 700 people fall in this category. If they paid their fair share of taxes, 37 million people could be lifted out of poverty and back to work putting more money in taxes back into local communities. This is not socialism. Working families have not had a raise in 12 years. A $7.50 minimum wage is no longer a livable wage.
In 2017, Republicans added $2 trillion to the national debt when they passed tax cuts for the rich. They planned for working families to pay for the debt with higher taxes and cuts in Medicare, Social Security and food stamps. Google the Republican policy of "Starve the Beast" for more information.
It's time to stop corporate welfare and tax billionaires their fair share to pay for programs that give working families a living wage, food security, healthcare and education. America is the richest nation in the world. It can afford this. Other wealthy nations do it.