CORPORATIONS THAT PAY NO TAX

THE ECONOMIC POPULIST

Naming Names Of Corporations Who Pay No Taxes

Submitted by Robert Oak on Thu, 11/03/2011 – 21:12

G.E., yes that G.E. who is in the White House, not only hasn’t paid taxes for the last three years, our government actually paid them. From 2008-2010, G.E. received tax rebates of $4.737 billion, while earning a pretax profit of $10.46 billion. This is while they offshore outsource jobs to China and get bail outs for their financial branch, G.E. Capital.

Citizens for Tax Justice have published a new study, Corporate Taxpayers & Corporate Tax Dodgers, 2008-2010, which is simply a must read for every American. Some of the most notorious multinational corporations, complete with bail outs and offshore outsourcing your job, paid negative taxes for the last three years. In other words, we paid them.

The study covers 280 corporations. Some of what they found:

  • Seventy-eight of the 280 companies paid zero or less in federal income taxes in at least one year from 2008 to 2010.
  • Thirty corporations paid less than nothing in aggregate federal income taxes over the entire 2008-10 period.
  • 2009 was a particularly banner year for non-payment of taxes. In that year, 49 companies paid zero or less in federal income taxes.
  • In 2008, 22 companies paid no federal income tax, and got $3.3 billion in tax rebates. In 2010, 37 companies paid no income tax, and got $7.8 billion in rebates.

Below is a table from the report, showing the top worst offenders, their pretax profits, their tax or rebate and their effective tax rate.

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WHY DOES THE REPUBLICAN PARTY PROTECT THE COFFERS OF THESE COMPANIES?

Yesterday, I saw video of Mitch McConnell on TV finally acknowledging that Republican leadership in Congress (and probably elsewhere), knows that the overwhelming majority of the American people want taxes raised on the top 1% of the population and super profitable corporations like those above.  McConnell looks squarely into the camera and spouts his usual rhetoric about supposed Democratic motives. He is lying on the President of the United StatesBarack Obama is trying to serve us with his best efforts in defiance of the Tea Party and the Republican leaders in the Congress who appear below:

Sen. Mitch McConnell, Rep. Eric Cantor and Speaker John Boehner

SUPPORT THE OCCUPY WALL STREET GROUPS!

Every effort should be made to remove them men from positions of power. Our Forefathers gave us no vehicle to remove them from power for opposing the will of the people. IF THEY WERE ELECTED TO REPRESENT YOUR DISTRICT, FIGHT THEIR EVERY EFFORT AT RE-ELECTION! These men and Tea Party pledged a lifetime oath to a worldly god, Grover Norquist…and that allegiance is stronger than any obligation to you. The American people used to be served by returning those

GROVER NORQUIST

we elect to The Congress because seniority equals power to help the district back home. Regrettably, we have created a new social class: The Legislative Elite! They represent their own agenda once in Washington. People, we have got to take our country back before they become stronger than the very government in which they labor not. Join your local protests against “the system.” Contribute $5, $10 to the various grassroots efforts to reclaim America. Participate in the Democratic Party which continues to fight for the common man. Give your Presidential vote to Barack Obama in November 2012! CONSIDER VOTING FOR DEMOCRATS ALL ACROSS YOUR BALLOT. YOU’LL BE BETTER SERVED!