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BigGo Finance·Oct 30, 202657 signal

Tesla, Disney Among 114 Profitable U.S. Firms That Paid Zero Current Federal Income Tax Last Year

An analysis of SEC filings by the Institute on Taxation and Economic Policy found that 706 profitable U.S. companies paid an average effective current federal tax rate of 10.4% last year, about half the 21% statutory rate, with 114 firms including Tesla, Walt Disney, United Airlines and DoorDash paying no current federal income tax. The report puts total subsidies captured by the group at $198 billion, with Alphabet, Microsoft, Amazon and Meta Platforms saving $46 billion combined from research and depreciation breaks. Corporate tax receipts fell about 15% to $381 billion in fiscal 2026 even as profits hit a record $4.7 trillion. The report's authors argue companies paying reduced rates pose a bigger revenue threat than those paying nothing, while critics say the breaks are legitimate bipartisan policy.

BusinessTSLA
marketplace.org·Oct 30, 202648 signal

Inside Big Tech companies' big slump this week

It was a bad week for Big TechGoogle’s parent company, Alphabet, lost $500 billion in stock value on Thursday following a rough third quarter earnings report. On Friday, more tech giants joined the fray: Meta...

Business
Los Angeles Times·Oct 30, 202645 signal

Rivian rallies on strong EV sales

Rivian shares surged Friday after its latest results boosted optimism that the long-struggling electric-vehicle maker is headed toward better times. The Irvine-based manufacturer announced Thursday that it...

Business
TechCrunch·Oct 30, 202645 signal

Cracks are emerging in the AI spending boom

Big Tech is pouring billions into AI infrastructure, but mounting debt, negative cash flow, and growing investor skepticism are raising questions about the sustainability of the AI spending boom.

Business