"How Corporations are the Biggest Tax Dodgers"

[applegrove]

How Corporations are the Biggest Tax Dodgers

By: Amitabh Pal at the Progressive

https://www.progressive.org/how-corporations-are-the-biggest-tax-dodgers

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The term “corporate social responsibility” is fast becoming an oxymoron. A new report on how little big companies pay in taxes is further proof.

“A comprehensive, five-year study of 288 profitable Fortune 500 companies finds that twenty-six paid no federal corporate income tax over the five-year period; 111 paid no federal corporate income tax in at least one of the last five years, and one-third paid a U.S. tax rate less than 10 percent over the same period,” says a recent study by Citizens for Tax Justice, a Washington, D.C.-based group.

Among the companies that paid not a single penny over five years, despite making huge profits, are household names such as Boeing, General Electric, Priceline.com, and Verizon.

“It’s a sorry situation when most Americans can rightly say, ‘I pay more in federal income taxes than General Electric, Boeing, Verizon, Pepco, Priceline, Duke Energy and twenty other big corporations, all put together!’ ’’ said the head of Citizens for Tax Justice, Robert McIntyre, riffing off a bumper sticker the organization had when I interned there in the 1990s.



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[Thinkingabout]

1. Hey. Romney, here are your 47% takers including Bain Capital.

[blkmusclmachine]

2. Savvy!

[indepat]

3. The shameful, disgraceful, sordid, inequitable handiwork of a corporatist government

beset on fulfilling the besotted gipper's non-sensible philosophy that corporations should not be subject to income taxes, that only people should pay income taxes.

[applegrove]

4. I like your style of writing. Very effective.

[Cha]

5. Speaking of tax dodgers..