Elmo has identified 1 billion in waste. The interest on the debt is 658 billion a year.
Elmo gets 92 billion in subsidies for his companies,.... that pay no federal taxes.
Cut Elmo out, and we save 92 billion a year.
Tax the rich
In 2023, several companies, including Tesla, Pfizer, and Johnson & Johnson, paid no US income tax.
Companies that paid no US income tax in 2023
Tesla: One of the companies in the S&P 500 that reported no income tax expense in 2023
Pfizer: Made over $27 billion in revenue in 2023 but paid no federal income tax
Johnson & Johnson: Had no US tax liability in 2023
Merck: Had no US tax liability in 2023
Other companies that have paid little or no taxes
T-Mobile: Paid a low percentage of federal taxes in 2023
GM: Paid a low percentage of federal taxes in 2023
Darden Restaurants: Has paid little in federal taxes while rewarding executives with large paychecks
Factors that contribute to low or no taxes paid
Tax loopholes: The 2017 tax law created new loopholes that allow companies to avoid paying taxes
Special breaks: Companies can take advantage of special breaks to pay little or no taxes
Stock buybacks: Companies can spend money on stock buybacks instead of paying taxes