Episode Details

Microsoft just pocketed the largest corporate tax break in U.S. history—$18.7 billion—thanks to loopholes and credits in the recent tax cut bill, despite raking in $101 billion in U.S. profits. The tech giant is now paying just 2.4% in taxes, less than half the advertised rate, and even pays more in taxes to Ireland than to the U.S. federal government. Big names like Alphabet and Amazon are also reaping billions in tax breaks, with Amazon’s effective rate at a mere 1.4%. As the national debt hits $40 trillion and interest alone costs $1 trillion annually, corporate tax revenue has plummeted 29% in two years—creating a gaping hole in the budget while profitable companies act more like global entities than American ones.

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