There are 38 US companies whose gross yearly revenue is over $100 billion. The collective amount OVER $100 billion is about the same as the US federal budget. No company should make more than $100 billion in revenue - it’s a monopolistic action. Tax all corporate revenue over $100 billion. How much is a variable amount based upon federal deficit spending. If the US government overspends $1 trillion then that amount is paid by these too large corporations. That way US politicians are disincentivized to over spend as the largest corporations will lobby strongly to have a balanced budget. If all US companies downsize or split off to reduce revenue to <$100 billion? Awesome, then we have no monopolies and their lobbying powers are therefore greatly diminished.
Revenue is not profit. Costs haven’t been taken out yet. This is part of the structural unfairness of personal income tax vs corporate income tax. Companies can write off everything they need to earn money (rent, supplies, wages, utilities) but people can’t.
How many companies have $100 million in profit, or more? It’s just one: Apple.
https://www.financecharts.com/screener/most-profitable-country-us
They’re already under investigation for monopoly practices:
https://www.nytimes.com/2024/03/21/technology/apple-doj-lawsuit-antitrust.html
If they didn’t count expansion and buying property and tools with reliable resell values as “costs” I’d agree.
Businesses can’t deduct those asset purchases as costs (they are not “expenses”). They have to depreciate them over a set number of years, according to established accounting practices.
Purchases of long-term business assets, such as factories and equipment, are claimed as depreciation. This involves subtracting a percentage of their cost per tax return over a period of years.
https://www.thebalancemoney.com/expense-or-depreciate-items-on-your-taxes-392950
This is fine and actually correct, because equipment and buildings literally cost money every year to repair or replace parts.
There are enough things to be angry about without making anything up. Please educate yourself about what businesses actually do, so you can advocate correctly. Otherwise you just sound dumb.
