A new online chartbook created by EPI and Americans for Tax Fairness shows that U.S. corporate profits have skyrocketed while revenue from corporate taxes is at records lows. The charts highlight one of the most damaging loopholes in the U.S. corporate tax code—deferral—which costs the U.S. Treasury $126 billion a year. By outlining our historically low effective corporate tax rates and the ways in which corporations avoid paying their fair share, this report serves as a crucial rebuttal to corporations that argue they need further tax breaks.
