23 replies to this topic

[cousin it]

Bernie Sanders (D-Vt) top 10 corporate tax avoiders.



1) ExxonMobil 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. [Note: Our post last April reported that ExxonMobil was owed $46 million by the IRS.]

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.




http://motherjones.c...10-tax-avoiders

[cousin it]

Well I woke up this morning On the wrong side of the bed And how I got to thinkin' About all those things you said About ordinary people And how they make you sick And if callin' names kicks back on you Then I hope this does the trick Cause I'm a sick of your complainin' About how many bills And I'm sick of all your bitchin' Bout your poodles and your pills And I just can't see no humour About your way of life And I think I can do more for you With this here fork and knife Chorus: Eat the Rich: there's only one thing they're good for Eat the Rich: take one bite now - come back for more Eat the Rich: I gotta get this off my chest Eat the Rich: take one bite now, spit out the rest So I called up my head shrinker And I told him what I'd done Said you'd best go on a diet Yeah I hope you have some fun And a don't go burst a bubble On the rich folks who get rude ÔCause you won't get in no trouble When you eats that kinda food Now their smokin' up the junk bonds And then they go get stiff And they're dancin' in the yacht club With Muff and Uncle Biff But there's one good thing that happens When you toss your pearls to swine Their attitudes may taste like shit But go real good with wine Chorus Wake up kid, it's half past your youth Ain't nothin' really changes but the date You a grand slammer, but you no Babe Ruth You gotta learn how to relate Or you'll be swingin' from the pearly gate Now you got all the answers, low and behold You got the right key baby but the wrong key ho, yo Believe in all the good things That money just can't buy Then you won't get no belly ache From eatin' humble pie I believe in rags to riches Your inheritence won't last So take your Grey Poupon my friend And shove it up your ass! Chorus Eat the Rich: there's only one thing they're good for Eat the Rich: take one bite now - come back for more Eat the Rich: don't stop me now I'm goin' crazy Eat the Rich: that's my idea of a good time baby

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And people continue to believe that the DNC is the party of the working man. Who was in charge and have a decisive majority when most of that took place?

[TAP]

Who was in charge ....... when most of that took place?

The super-rich.

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touche

[cousin it]

And people continue to believe that the DNC is the party of the working man. Who was in charge and have a decisive majority when most of that took place?

Who wrote the laws that allowed it to happen? And believe me, I think that both parties are about the same... Obama is little more than a rubber stamp for Bush's policies. Whoda thunk it?

[PERM BANNED]

What laws? The bailouts? The tax code?

[Hula]

Bernie Sanders (D-Vt) top 10 corporate tax avoiders.



1) ExxonMobil 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. [Note: Our post last April reported that ExxonMobil was owed $46 million by the IRS.]

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.




http://motherjones.c...10-tax-avoiders

amazing! this shit just shouldn't be

[TAP]

http://www.usuncut.org/

http://www.ukuncut.org.uk/

[cousin it]

What laws? The bailouts? The tax code?

I was referring to the tax code. TBH, I am not really up on it, but I would assume that a lot of the code revisions were rewritten in the 80s and 90s???

Irregardless(oops, forgot that that was someone's pet peeve) of one's political affiliation, surely we can all agree that something is wrong when a company that did 19billion in profit gets a 156million refund,

[TAP]

@adamsmith if you had an invisible hand would you nudge the markets in the right direction or steal everything you could?

[Mr. Roboto]

Bernie Sanders (D-Vt) top 10 corporate tax avoiders.



1) ExxonMobil 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. [Note: Our post last April reported that ExxonMobil was owed $46 million by the IRS.]

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.




http://motherjones.c...10-tax-avoiders

I'm tired of these welfare Mommas taking all my tax money!

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@adamsmith if you had an invisible hand would you nudge the markets in the right direction or steal everything you could?

Aren't the existing tax codes and regulations that allow businesses to avoid paying taxes and receive bailouts when they fail against the very notion of the free market?

[freedom78]

@adamsmith if you had an invisible hand would you nudge the markets in the right direction or steal everything you could?

Aren't the existing tax codes and regulations that allow businesses to avoid paying taxes and receive bailouts when they fail against the very notion of the free market?

They certainly are. This is one of the issues I tend to mull over a lot. Does this sort of interference mean we're prohibited from a free market; or, is the nature of capitalism such that it seeks out any advantage, including the power of the state, to enhance the bottom line?

I'm sure it's some of both, though I feel no surprise at the fact that those who've competed to the reward of great wealth would then use that wealth to insulate their power. In one sense, we lack a free market. In another, our market is TOO free, in that it lets the market have so much power over the state apparatus and levers of political power. Much like we advocate a wall of separation between church and state, one has to consider whether a free market requires a similar wall between economy and state. It goes much further than saying "government regulations are hurting business". That's one side of the story. The other side is that business power and influence over government is so pervasive that the market itself is behind its own un-free nature.

And people continue to believe that the DNC is the party of the working man.

They certainly are not. As far as corporate money, lobbying, and influence goes, they're in full bore. We have two capitalistic parties. One sides with workers; the other with management. But both are generally for the system as it exists.

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You can never fully isolate business from government as you theoretically can with religion. Government requires products and services from the private sector in order to operate. As long as contracts exists putting government dollars into private business, the legislature will (and should in my opinion) attach stipulations. And once that ball gets rolling, you can't stop it. Without government intervention, unions would cease to exists as they do today. You'd have a group of individuals who pool their collective efforts together, but have no backing from any legal authority nor any penalty should they break ranks with the union leadership. Asking for it to function any other way is like asking for a cat that barks. In my opinion, the auto and bank bailout were the worst thing this nation could have done. Some people want to point and say that company X paid back the money they got with some slight interest. Well that does us no good when we pull the money out of thin air to loan in the first place, and with all the tax breaks and ways around the system, you're going to continue to be in the red anyway. I honestly think we're fucked. People feel so entitled for a lifestyle they can't afford, and are unwilling to bargain and take cuts and pay more. Everyone wants to put to Europe's model of a social safety net, but what is their tax rate on their middle class? The only way this train can be stopped from derailing is if everyone sucks it up and pays more taxes and we cut dramatically from all areas of the budget. Knock the sob stories and appeals to emotion to sell your side and pocket more votes by promising "free" shit that someone else pays for. Until this happens, we're going to continue to spiral out of control.