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Many large coroorallons have an objective to pay less in taxes and are tang corporate tax loopholes to avoid paying taxes. Walmart and Apple are such companies. Apple CEO Tim Cook was quoted n the press as defending Apple’s tax-avoiding practices. It is not known just how many co•porabons are engaging in these kinds of activities. What a known. though. is that as these corporations continue taking advantage of corporate tax laws, the more taxes ordinary ?smiles and small businesses pay.
The U.S. has federal state, and some local government taxes on corporate profits President Donald Trump lowered the federal =negate tag rale from 35% to 21%, which was intended to pee less Incentive to move jobs overseas and keep money in America. However, others claim that large, profitable corporations should pay high taxes to he p fund social programs. and the tax rate should not lave been cut.
1. Although It is legal. Is it ethical for Apple, Walmart, and other corporations to take advantage of tax loopholes to avoid paying taxes?
2. If you became CEO of one of those corporations. would you continue to take advantage of the lax !connotes? Why or Mw not?
3. As an individual. do or nil you take advantage of deductons that are called tax loopholes or pay more taxes than legally required by law? 4. What is the government’s role and responsibility regarding tax loopholes? What should the government do?
5. Should the corporate lax rate be cut more or increasec? If so. by how much?”
