[OC] Visualising Pfizer's latest income statement. Pharmaceutical profit margins are notoriously higher than most other industrieswolf1moon t1_j00i7dx wrote
Reply to comment by [deleted] in [OC] Visualising Pfizer's latest income statement. Pharmaceutical profit margins are notoriously higher than most other industries by giteam
Where are you getting that percentage? Compare like to like. They're paying 4% if that data is real, as their effective tax rate. For citizens, the effective tax rate is 14.6%, see source below.
The top 50% of taxpayers paid 97.1% of all federal income taxes in 2018. Among those taxpayers, the average income tax rate was 14.6% and the average tax paid was $20,663. The OECD reported that the U.S. "tax wedge" for the average single worker was 28.4% in 2021.
https://www.thebalancemoney.com/what-the-average-american-pays-in-taxes-4768594
[deleted] t1_j00ipeg wrote
>Where are you getting that percentage
It’s the US corporate tax rate. The 4% figure is based on their reported profits, but this isn’t the same as taxable income
The actual tax paid so far in 2022 for them is around $5 billion. It’s just that their effective tax rate includes deferred taxes in future years, which are very negative
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