The Associated Press reported Friday that six of the country’s biggest Wall Street banks saved a total of $3.59 billion in taxes last quarter.
“Before the Trump tax cuts, these banks paid between 28 to 31 percent of their income each year in corporate taxes....bank executives at the big six firms have estimated that their full-year tax rates [after the tax cuts] will be something closer to 20 percent to 22 percent,” the AP writes.
It’s no wonder why Republicans are struggling to sell the GOP tax bill to voters even though it’s supposed to “sell itself.”
$3.59 billion is a lot of money. My proposal is that the banks give me some. Splinter’s Libby Watson also weighs in:
$1 million or so would suffice, thanks!