Patagonia Donates Tax Break Returns to Environmental Groups

Patagonia Donates Tax Break Returns to Environmental Groups

US President Donald Trump, who staunchly believes global warming is “fake news,” just got slapped in the face by outdoor company Patagonia.

Patagonia’s CEO Rose Marcario announced earlier this week that the company would be donating $10 million dollars accrued from the corporate tax breaks put in place by the Trump administration to non-profit environmental organizations.

In a letter published on LinkedIn, Marcario, who referred to Trump’s 2017 tax reform as “irresponsible,” said that “instead of putting the money back into our business, we’re responding by putting $10 million back into the planet.”

More specifically, the US outdoor giant will contribute these funds “to groups committed to protecting air, land and water and finding solutions to the climate crisis.”

Marcario added: “We have always paid our fair share of federal and state taxes. Being a responsible company means paying your taxes in proportion to your success and supporting your state and federal governments, which in turn contribute to the health and well-being of civil society. Taxes fund our important public services, our first responders and our democratic institutions. Taxes protect the most vulnerable in our society, our public lands and other life-giving resources. In spite of this, the Trump administration initiated a corporate tax cut, threatening these services at the expense of our planet.”

Patagonia’s founder Yvon Chouinard also chipped in, saying that the Trump administration “continues to ignore the seriousness and causes of the climate crisis.”

“We need to double down on renewable energy solutions. We need an agriculture system that supports small family farms and ranches, not one that rewards chemical companies intent on destroying our planet and poisoning our food. And we need to protect our public lands and waters because they are all we have left,” he added.

Back in April 2018, Bloomberg reported on how the Trump administration’s tax cuts resulted in 180 American companies seeing their tax obligations drop by 6 percent with total savings amounting to close to 13 billion dollars.

In 2017, Donald Trump’s government pushed through a tax reform package that dropped corporate tax breaks in the US from 35 to 21 percent.

Donald Trump Rejects Global Warming Study

Donald Trump Rejects Global Warming Study

On Monday, Donald Trump rejected the findings of a non-partisan report worked on by 13 federal agencies and close to 300 scientists that concluded that climate change could lead to catastrophic results for the planet.

The study explains that this rapid change to earth’s climate “is transforming where and how we live and presents growing challenges to human health and quality of life, the economy, and the natural systems that support us.”

It also warns that current conditions will lead to “substantial damages to the US economy, environment, and human health and well-being over the coming decades.”

More specifically, the report posits that there could be “$141 billion from heat-related deaths, $118 billion from sea level rise and $32 billion from infrastructure damage by the end of the century, among others.”

Despite the report being put together by his administration, Donald Trump said he didn’t “believe it.”

What are your thoughts on the need for taxes to contribute to social and environmental causes?

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