Corporations shamelessly buy exemption from taxes

This is far from startling to anyone who has been paying attention.

The Institute on Taxation and Economic Policy (ITEP) found that at least 88 of the nation’s largest corporations paid zero federal corporate income tax in fiscal year 2025, despite reporting a combined $105 billion in US pretax income.

The federal income tax for corporations is 21%, meaning that these 88 companies collectively avoided $22.1 billion in taxes for FY 2025. On top of that, they collected $4.7 billion in tax rebates, bringing their total tax breaks to about $26.7 billion…

Using data from OpenSecrets, which compiles and publishes campaign finance and lobbying data, we found that from the 2020 election cycle through the 2024 cycle, these 88 companies have spent nearly $852 million on lobbying and campaign contributions. - Public Citizen

Trump is enabling greedhead crooks with a vengeance

This is far from unexpected, but the scope of it is nonetheless startling. Literally everyone is at risk.

The first Trump administration didn’t pay much attention to white-collar civil and criminal enforcement, but this term is off the charts. Investigations into any business executive with even a passing relationship to Trump have been scotched, with beneficiaries ranging from the richest man in the world to the husband of the education secretary. Over 100 active enforcement actions have been either paused or dropped across the executive branch. In March, Trump donor Trevor Milton was pardoned after being sentenced for lying to investors; in April, Trump issued a corporate pardon to BitMEX, a crypto exchange that had pled guilty to failing to prevent money laundering.

Entire areas of the law, from prohibitions on U.S. companies bribing foreign countries to crackdowns on public corruption to bans on workplace discrimination, have essentially vanished. An orgy of deregulation, mainly benefiting corporate activities, is being planned. About $50 million in donations for Trump’s inauguration festivities came from companies under active federal investigation or lawsuits, and it’s hard to believe that any of those cases will see the light of a courtroom, or that any of those executives will be held accountable. - The American Prospect

Getting rich trading your competitors' stock?

Yep, that's how it works, these days.

The Medpace executive is among dozens of top executives who have traded shares of either competitors or other companies with close connections to their own. A Gulf of Mexico oil executive invested in one partner company the day before it announced good news about some of its wells. A paper-industry executive made a 37% return in less than a week by buying shares of a competitor just before it was acquired by another company. And a toy magnate traded hundreds of millions of dollars in stock and options of his main rival, conducting transactions on at least 295 days. He made an 11% return over a recent five-year period, even as the rival’s shares fell by 57%.

These transactions are captured in a vast IRS dataset of stock trades made by the country’s wealthiest people, part of a trove of tax data leaked to ProPublica. ProPublica analyzed millions of those trades, isolated those by corporate executives trading in companies related to their own, then identified transactions that were anomalous — either because of the size of the bets or because individuals were trading a particular stock for the first time or using high-risk, high-return options for the first time.

The records give no indication as to why executives made particular trades or what information they possessed; they may have simply been relying on years of broad industry knowledge to make astute bets at fortuitous moments. Still, the records show many instances where the executives bought and sold with exquisite timing. - ProPublica