The Dec. 17 Business section article “U.S. corporations paid 11.3 percent tax rate last year” (Page C1) gave me brain cramps. “The 91 profitable Fortune 500 corporations that paid no federal tax in 2018 earned a combined $101 billion last year,” reported Jeff Stein and Christopher Ingraham of The Washington Post.
Our debt for this year will again be a trillion dollars. The yearly interest on our $22 trillion debt is approaching $400 billion.
We struggle to find money for entitlement programs, education and infrastructure needs. Health care costs are going through the roof. And the corporate revenue share of our economy has “plunged … from more than 4 percent to around 1 percent,” the Post’s Stein and Ingraham reported.
The stock market is at a record high, and stock dividends and the like are creating more millionaires and billionaires than ever.
Is something wrong with this picture? Bamboozled again!
Stephen Musica Sr.
Harpswell
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