As a result of tax loopholes and deductions, the social media giant Facebook paid no income taxes for the fiscal year 2012, despite reaping $1.1 billion in US corporate profits, according to a new report.
While Americans have just been subjected to higher taxes, billion-dollar corporations like Facebook, General Electric, Boeing and Wells Fargo have all been able to avoid paying any corporate income taxes, reports Citizens for Tax Justice.
Am I missing something ???
How is this possible in a democratic, socially responsible society…