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Ichingcarpenter

(36,988 posts)
Thu Feb 6, 2014, 11:17 AM Feb 2014

30 Major U.S. Corporations Paid More to Lobby Congress Than Income Taxes

By employing a plethora of tax-dodging techniques, 30 multi-million dollar American corporations expended more money lobbying Congress than they paid in federal income taxes between 2008 and 2010, ultimately spending approximately $400,000 every day -- including weekends -- during that three-year period to lobby lawmakers and influence political elections, according to a new report from the non-partisan Public Campaign.

Despite a growing federal deficit and the widespread economic instability that has swept the U.S since 2008, the companies in question managed to accumulate profits of $164 billion between 2008 and 2010, while receiving combined tax rebates totaling almost $11 billion. Moreover, Public Campaign reports these companies spent about $476 million during the same period to lobby the U.S. Congress, as well as another $22 million on federal campaigns, while in some instances laying off employees and increasing executive compensation.

29 Major Corporations Paid No Federal Taxes, 2008-2010



http://www.ibtimes.com/30-major-us-corporations-paid-more-lobby-congress-income-taxes-2008-2010-380982

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30 Major U.S. Corporations Paid More to Lobby Congress Than Income Taxes (Original Post) Ichingcarpenter Feb 2014 OP
Seems to be a wise investment from their prospective Major Nikon Feb 2014 #1
True highmindedhavi Feb 2014 #3
... Scuba Feb 2014 #2
Boeing Ichingcarpenter Feb 2014 #5
I believe they have now met the operational definition of fascists. raging moderate Feb 2014 #4
Seems Like Our Economy Doesn't Have A Problem - There's Plenty Of Money Flowing Around..... global1 Feb 2014 #6
I'm sure that the data Ichingcarpenter Feb 2014 #7
What can we do about this? KoKo Feb 2014 #8
Gets obvious when 300 people own more than 300 million. Octafish Feb 2014 #9
Those companies pay more to BUY the government than to fund it meow2u3 Feb 2014 #10
That's why the JP Morgan deal was such a joke Ichingcarpenter Feb 2014 #11
and let's not kid ourselves here. They are buying both republicans and democrats. liberal_at_heart Feb 2014 #12
And some don't seem to come to grips that such as these are the machinations, the hallmarks of a indepat Feb 2014 #13
And how many in Congress are millionaires? RainDog Feb 2014 #14
 

Scuba

(53,475 posts)
2. ...
Thu Feb 6, 2014, 11:22 AM
Feb 2014
Of the 30 companies analyzed in the report, which include corporate giants such as General Electric, Verizon Communications, Wells Fargo (WFC), Mattel (MAT) and Boeing (BA), 29 of them managed to pay no federal taxes from 2008 to 2010. Only FedEx, which raked in about $4.2 billion in profits during that period, paid a three-year tax rate of 1 percent -- totaling $37 million -- far less than the statutory federal corporate tax rate of 35 percent.




Meanwhile, the burden of protecting their corporate assets (think US military) fell to working American's taxbills.

Ichingcarpenter

(36,988 posts)
5. Boeing
Thu Feb 6, 2014, 11:29 AM
Feb 2014

Boeing didn't pay any taxes between 2008-2010 despite making $9.8b in profits, instead receiving tax rebates of $178m, laying off 14,862 workers, and increasing executive pay by 31%. http://en.wikipedia.org/wiki/Boeing#Political_contributions.2C_federal_contracts.2C_advocacy

raging moderate

(4,305 posts)
4. I believe they have now met the operational definition of fascists.
Thu Feb 6, 2014, 11:28 AM
Feb 2014

This is obvious to those who have read the works of the men who coined the phrase.

global1

(25,247 posts)
6. Seems Like Our Economy Doesn't Have A Problem - There's Plenty Of Money Flowing Around.....
Thu Feb 6, 2014, 11:30 AM
Feb 2014

to lobby and for political contributions.

Ichingcarpenter

(36,988 posts)
7. I'm sure that the data
Thu Feb 6, 2014, 01:10 PM
Feb 2014

on this has gotten worse. Even after 5 years of Obama.... yes I know, the congress but still, he does manage the IRS as president. The laws are written by congress.

KoKo

(84,711 posts)
8. What can we do about this?
Thu Feb 6, 2014, 01:16 PM
Feb 2014

Supreme Courts decision allows this. Unless we can get our States to Amend it...how can we change this?

We can't seem to shame them...we can't even get the IRS to check into the Koch Brothers Shell Companies who claim non-profit tax exemption. And no matter how many small donors contribute to campaigns (like the Act Blue Initiative) the corporate lobbyists are the ones who write the legislation and twist arms of the representatives for votes when they get to DC. Our small donations are forgotten and the promises they made on campaign trail are not always honored.

We are really in a sad situation. And, even though more and more is being exposed it never seems enough to get any legal action.

Ichingcarpenter

(36,988 posts)
11. That's why the JP Morgan deal was such a joke
Thu Feb 6, 2014, 04:01 PM
Feb 2014

Just like in old Chicago


It paid off the Chicago government to continue its crimes and then took deferment of fines.

The wild days of the Chicago mafia are
here again except now its national and legal

indepat

(20,899 posts)
13. And some don't seem to come to grips that such as these are the machinations, the hallmarks of a
Thu Feb 6, 2014, 11:30 PM
Feb 2014

corporatist government.

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