What the Fortune 500 really pays?
13 Jan '18 11:39Despite the sniveling by the right wing about corporate tax rates, here's a small sample of what the Fortune 500 really pays in taxes: General Electric, Boeing, Priceline.com, Verizon and 22 other profitable Fortune 500 firms paid no federal income taxes from 2008 through 2012, according to Citizens for Tax Justice. 111 profitable Fortune 500 firms paid zero federal taxes in at least one of those five years. General Electric, one of the most notorious corporate tax dodgers, got $3.1 billion in refunds on $27.5 billion in profits from 2008 to 2012. The company paid less in federal income taxes in five years than a single American family pays in one year. In addition, Fortune 500 corporations are avoiding up to $767 billion in U.S. federal income taxes by holding more than $2.6 trillion of “permanently reinvested” profits offshore. In their latest annual financial reports, 29 of these corporations reveal that they have paid an income tax rate of 10 percent or less in countries where these profits are officially held. This is not counting all the offshore accounts hidden in shell corporations by wealthy individuals.
The really sad things is Trump and the rest of the GOP have managed to sell their legions of uneducated nitwits that these corporate giants, whose wealth is larger than some countries needs still more tax breaks and they can't afford to pay an extra penny in wages to the working class.
I guess if you wear a pretty suit and tell the same lie often enough, you can make your followers smile and wave while you stab them in the back.
Trump voters: You voted for a billionaire that appointed other billionaires to fix the same system that made them all billionaires? You're a special kind of stupid, aren't you?!
https://www.cbsnews.com/news/meet-the-18-companies-that-paid-no-taxes-over-8-years/
https://americansfortaxfairness.org/tax-fairness-briefing-booklet/fact-sheet-corporate-tax-rates/
https://itep.org/fortune-500-companies-hold-a-record-26-trillion-offshore/
The really sad things is Trump and the rest of the GOP have managed to sell their legions of uneducated nitwits that these corporate giants, whose wealth is larger than some countries needs still more tax breaks and they can't afford to pay an extra penny in wages to the working class.
I guess if you wear a pretty suit and tell the same lie often enough, you can make your followers smile and wave while you stab them in the back.
Trump voters: You voted for a billionaire that appointed other billionaires to fix the same system that made them all billionaires? You're a special kind of stupid, aren't you?!
https://www.cbsnews.com/news/meet-the-18-companies-that-paid-no-taxes-over-8-years/
https://americansfortaxfairness.org/tax-fairness-briefing-booklet/fact-sheet-corporate-tax-rates/
https://itep.org/fortune-500-companies-hold-a-record-26-trillion-offshore/
