Mainecat Posted November 17, 2019 Share Posted November 17, 2019 How FedEx Cut Its Tax Bill to $0 In the 2017 fiscal year, FedEx owed more than $1.5 billion in taxes. The next year, it owed nothing. What changed was the Trump administration’s tax cut — for which the company had lobbied hard. The public face of its lobbying effort, which included a tax proposal of its own, was FedEx’s founder and chief executive, Frederick Smith, who repeatedly took to the airwaves to champion the power of tax cuts. “If you make the United States a better place to invest, there is no question in my mind that we would see a renaissance of capital investment,” he said on an August 2017 radio show hosted by Larry Kudlow, who is now chairman of the National Economic Council. Four months later, President Trump signed into law the $1.5 trillion tax cut that became his signature legislative achievement. FedEx reaped big savings, bringing its effective tax rate from 34 percent in fiscal year 2017 to less than zero in fiscal year 2018, meaning that, overall, the government technically owed it money. But it did not increase investment in new equipment and other assets in the fiscal year that followed, as Mr. Smith said businesses like his would. Nearly two years after the tax law passed, the windfall to corporations like FedEx is becoming clear. A New York Times analysis of data compiled by Capital IQ shows no statistically meaningful relationship between the size of the tax cut that companies and industries received and the investments they made. If anything, the companies that received the biggest tax cuts increased their capital investment by less, on average, than companies that got smaller cuts. https://www.nytimes.com/2019/11/17/business/how-fedex-cut-its-tax-bill-to-0.html Quote Link to comment Share on other sites More sharing options...
Rod Posted November 17, 2019 Share Posted November 17, 2019 Taxation is theft. Quote Link to comment Share on other sites More sharing options...
f7ben Posted November 17, 2019 Share Posted November 17, 2019 Just now, 168hp CAT 800 said: Taxation is theft. So is what the farm animals did to you anal hymen 1 Quote Link to comment Share on other sites More sharing options...
Rod Posted November 17, 2019 Share Posted November 17, 2019 1 minute ago, f7ben said: So is what the farm animals did to you anal hymen That’s what Bussmelon dose to you in every thread! Quote Link to comment Share on other sites More sharing options...
bussman Posted November 17, 2019 Share Posted November 17, 2019 32 minutes ago, 168hp CAT 800 said: That’s what Bussmelon dose to you in every thread! Oh shit!!!!! Bhen is getting absolutely pummeled this entire weekend!!!!! Ouch 1 Quote Link to comment Share on other sites More sharing options...
Snake Posted November 18, 2019 Share Posted November 18, 2019 1 Quote Link to comment Share on other sites More sharing options...
Momorider Posted November 18, 2019 Share Posted November 18, 2019 6 minutes ago, Snake said: Quote Link to comment Share on other sites More sharing options...
jammin Posted November 18, 2019 Share Posted November 18, 2019 29 minutes ago, Snake said: 1 Quote Link to comment Share on other sites More sharing options...
Edmo Posted November 18, 2019 Share Posted November 18, 2019 MC is such a sap. Falls for it every time. Quote Link to comment Share on other sites More sharing options...
Snake Posted November 18, 2019 Share Posted November 18, 2019 I met Fred Smith of FedEx. Nice guy. Quote Link to comment Share on other sites More sharing options...
jammin Posted November 18, 2019 Share Posted November 18, 2019 13 minutes ago, Snake said: I met Fred Smith of FedEx. Nice guy. We built all of there Control and Operations Centers. Good people. Quote Link to comment Share on other sites More sharing options...
Gold Member Stephen Hawking Posted November 18, 2019 Gold Member Share Posted November 18, 2019 6 hours ago, Edmo said: MC is such a sap. Falls for it every time. He gets gut hooked more than a nightmare on elm street victim. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.