Who Pays the Taxes?

Not Corporations.

From 2008 to 2010, GENERAL ELECTRIC made $ 44 BILLION and paid no taxes! But not only did they pay ZERO, the U.S. Treasury gave them $ 4 BILLION in tax credits. *

In 2010 BANK of AMERICA paid no tax.

In 2009, EXXON MOBIL made $ 34 BILLION and paid nothing.

WELLS FARGO bought Wachovia and claimed a $ 19 BILLION tax credit for doing so

Your tax rate was probably between 27 and 30%, HEWLETT-PACKARD’s tax rate in 2009 was 2.3 % (That’s 2 POINT 3 PERCENT or less than 1/10 of what you’re paying)

CHEVRON’s tax rate was 1%

BOEING made $ 4 BILLION in America but paid nothing and even got $ 124 MILLION “back” although not paying in in the first place

And this is just the beginning.

SOURCE: PayUpNow.org


* “Tax Credit” is different from a Tax Deduction. You can claim a deduction only when you have taxable income to charge it against. A credit can be claimed even though no taxable income is identified. A tax credit is free money. Generally, if a working person gets free money from the Government, it’s called “welfare” even if the working person has paid for it his entire working life, i.e. Social Security. If a rich person, or corporation, gets free Government money, welfare, it’s called a “tax credit”.


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s