Is Bernie Sanders telling the truth?

[Pryderi]

Has anyone fact-checked the claims that he's made?

8) Citigroup last year made more than $4 billion in profits but paid no federal income taxes. It received a $2.5 trillion bailout from the Federal Reserve and U.S. Treasury.

How can I use these numbers if I can't verify them?

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=439&topic_id=752334&mesg_id=752334

1) Exxon Mobil made $19 billion in profits in 2009. Exxon not only paid no federal income taxes, it actually received a $156 million rebate from the IRS, according to its SEC filings.

2) Bank of America received a $1.9 billion tax refund from the IRS last year, although it made $4.4 billion in profits and received a bailout from the Federal Reserve and the Treasury Department of nearly $1 trillion.

3) Over the past five years, while General Electric made $26 billion in profits in the United States, it received a $4.1 billion refund from the IRS.

4) Chevron received a $19 million refund from the IRS last year after it made $10 billion in profits in 2009.

5) Boeing, which received a $30 billion contract from the Pentagon to build 179 airborne tankers, got a $124 million refund from the IRS last year.

6) Valero Energy, the 25th largest company in America with $68 billion in sales last year received a $157 million tax refund check from the IRS and, over the past three years, it received a $134 million tax break from the oil and gas manufacturing tax deduction.

7) Goldman Sachs in 2008 only paid 1.1 percent of its income in taxes even though it earned a profit of $2.3 billion and received an almost $800 billion from the Federal Reserve and U.S. Treasury Department.

8) Citigroup last year made more than $4 billion in profits but paid no federal income taxes. It received a $2.5 trillion bailout from the Federal Reserve and U.S. Treasury.

9) ConocoPhillips, the fifth largest oil company in the United States, made $16 billion in profits from 2007 through 2009, but received $451 million in tax breaks through the oil and gas manufacturing deduction.

10) Over the past five years, Carnival Cruise Lines made more than $11 billion in profits, but its federal income tax rate during those years was just 1.1 percent.

[Armstead]

1. Call his office. I'm sure they'll tell you where they got the info

[Cleita]

2. His sources are usually posted on his website.

Google is your friend.

[Pryderi]

3. Nope. Not at his site.

http://sanders.senate.gov/newsroom/news/?id=4FFDC95C-A90C-4704-A5E8-90146E826CDA

[Cleita]

4. Yes, they are. You have to hit the links and

many of his stats are repetitious so you need to go back into the archives. Also, the GE claim is from their accounting reports for instance.

[Pryderi]

5. So far I've only run across self-referencing. I'm not doubting all his numbers, but some of them

look to be way off base.

[Cleita]

7. I have checked his numbers a lot and he's got them

pretty right. Try using the search function on his website and you might turn up more sources. I notice he also uses the Huff Post a lot too for sources.

[MannyGoldstein]

6. Pick one. I'll find it for you. nt

[Pryderi]

8. Citigroup received a $2.5 trillion bailout from the Federal Reserve and U.S. Treasury.

find that one.

[teach1st]

10. CNN's Bailout Tracker

http://money.cnn.com/news/storysupplement/economy/bailouttracker/

A quick scan and quicker math shows about $250 billion for Citigroup.

[guruoo]

17. Did somebody move the decimal?

[Pryderi]

19. sounds like Bernie moved a decimal point...

[MannyGoldstein]

11. Can't find it.

Sanders is claiming that it's true, but I think he's calling for a Fed audit to prove it. So no proof yet.

[gateley]

9. Aren't these all publicly held companies? If so, shouldn't their records be available

to the public?

[Pryderi]

12. Should be easier than finding hen's teeth. n/t

[gateley]

14. Notice I didn't volunteer to look.

:7

But I wasn't the one asking the question.

Even if the figures aren't accurate, the bottom line is still clear - these big corporations skate on taxes thanks to the loopholes and tax laws our government has given them. The amounts don't matter, it's the principle that infuriates me.

[drmeow]

13. Here are some links

I don't know how good they are - I just glanced at two of them.

http://www.murphycanhascongress.com/2011/03/are-you-fed-up/#more-193

[Pryderi]

15. I can find some numbers, but nothing like some of what Bernie is claiming. Especially 2.5 trillion

to Citigroup.

[guruoo]

16. federalreserve.gov bankinforeg tarpinfo.htm

Looking now...

http://www.federalreserve.gov/bankinforeg/tarpinfo.htm

[Pryderi]

18. Thanks! I just don't want to see a "PANTS ON FIRE" from factcheck....n/t

[Pryderi]

20. He's going to be branded a liar. n/t