In 2014 7 of the 30 largest corporations earned $74 billion in pre-tax profits and paid no Federal income tax than received a $1.9 billion refund from the IRS resulting in a negative 2.5% tax rate. 29 CEO's made $32 million on average of $24 billion pre-tax corporate profits while receiving $238 million in tax refunds = to a 1% net tax rate. Of the 29 firms, CEO pay averaged $36.6 million, more than 3 X the $11.7 million average for large corporations. In 2013 Citigroup got a IRS refund of $260 million and paid their CEO $18 million. This is one of the banks taxpayers bailed out after the crash in 2008. And Republicans say that corporations pay too much in taxes? From 2003-2012 S&P 500 corporations used 54% of their earnings to buy back stock which increased per share price. In addition to that another 37% went to pay dividends. Corporations no longer retain and re-invest, they downsize and distribute.
The top marginal tax rate may be high at 39.6%, same as for ordinary income, but on average nationwide corporations pay around 10-11% net taxes because they have 80% of all the tax loopholes resulting in a lower net tax bill than that of the average wage worker or even many professional's who pay a higher net tax rate than do many corporations.
As if this is not bad enough, 95% of all workers experience wage theft. A few examples are off the clock work and theft of over time hours. This amounts to an average per worker loss of $1400.00 per year. Business wants to pay low wages then they steal 10-15% of even that back. People cannot live on less then $15.00 per hour in this country, and that's low. We subsist on $10.00 based on 40 hour work week, which many do not have these days. So, instead of one worker per family, we have two and even of those two many have to have more than one job because they are paid low or can only get part time work.
This is all a direct and indirect result of our trade and tax policies over the last 35 years and a loss of our unions to give us a voice. But that's a whole other subject. Welcome to the land of the greedy and the home of the poor.