A new Citizens for Tax Justice report detailing how little corporations pay in federal corporate income tax also noted that financial firms receive the highest percentage of federal tax subsidies, collecting nearly 17 percent of the tax largesse that the government hands out. The largest single recipient of federal tax subsidies over the last three years was mega-bank Wells Fargo.
Briefly, we wanted to update you on where Truthout stands this month.
To be brutally honest, Truthout is behind on our fundraising goals for the year. There are a lot of reasons why. We’re dealing with broad trends in our industry, trends that have led publications like Vice, BuzzFeed, and National Geographic to make painful cuts. Everyone is feeling the squeeze of inflation. And despite its lasting importance, news readership is declining.
To ensure we stay out of the red by the end of the year, we have a long way to go. Our future is threatened.
We’ve stayed online over two decades thanks to the support of our readers. Because you believe in the power of our work, share our transformative stories, and give to keep us going strong, we know we can make it through this tough moment.
We’ve launched a campaign to raise $35,000 in the next 4 days. Please consider making a donation today.