Tax cuts indeed

For some reason, the company I work for has started to receive the Wall Street Journal, and since I am already overloaded on news and issues, I figured I'd give it a read. Page A2 provided this nugget (no link yet, but it is in the print edition for Thursday, September 23, 2004):

Eighty-two percent of the country's largest profitable corporations paid no federal income tax for at least one year of the Bush administration's first three years, a study found.

That's quite impressive. These are profitable Fortune 500 companies that paid not one cent on tax returns for a year of the Bush rule, and many received money back according to the article. Yet we've still lost close to a million jobs since Bush took office. Does this mean we can put to rest the idea of the trickle-down economy altogether? Please?