GM, Ford Paid Average Combined Tax Rate of Just 1 Percent on $42B in Profits

Despite reaping tens of billions of dollars in profits between them over the past five years, General Motors and Ford paid an average combined tax rate of just 1% on total pre-tax income, an analysis published Tuesday by economic justice advocates revealed — as the auto giants claimed they cannot afford striking workers’ demands for better pay. The Americans for Tax Fairness (ATF) analysis — which…

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