Why You Paid More In Taxes Than 30 Fortune 500 Companies Combined

[Galraedia]

You might be wondering why if you paid federal income tax, you paid more than 30 Fortune 500 companies combined over the last three years. They got to pay zero dollars in taxes (some of them even got money back), but not because they were broke; in fact, they made $160 billion in profit over the last three years. As to the “why”, well, way back in 2001, our fearless decider George W Bush enacted a series of tax cuts and changes that opened more loopholes to corporations. In fact, by 2003, the number of no-tax companies jumped from 33 to 46, an increase of 40%. The next time someone asks you what the 99% want, you might remind them of this outrageous fact.

Read more: http://www.politicususa.com/en/ypaid-more-tax-than-fortune-500-companies

[rfranklin]

1. I wondere how many jobs those companies created being at the ideal tax rate?

The ideal tax rate according to Republicans...I am willing to bet that most of them reduced their work forces in the past couple of years.

[OhioChick]

2. I'm sure they all created jobs...

Overseas.

[Scuba]

3. Minor correction....

The author wrote: "They got to pay zero dollars in taxes (some of them even got money back)..."


More accurately would be "...(some of them even were given a chunk of your tax dollars)..." as this was not money they got "back".

It was our money, dammit! And the thieving politicians gave it to wealthy investors in Hong Kong and London.

[socialindependocrat]

4. There should be a "minimum of total" tax

There should be a minimum tax that a corporation should pay based on it's total income.

At the least they shouldn't be allowed to collect extra money beyond paying a ZERO TAX.

This just says to me that here are too many loopholes and tax breaks to businesses.

When these places make billions of dollars there ought to be some tax on their income.