60 of the Nation’s largest Corporations got by with paying a mere 8% tax rate. What would you be able to do for your family, your home, your kids if you only had to pay an 8% tax rate? You know why you pay so much? Because the Corporate Fatcats don’t pay!
The BIGGEST tax cheats –
General Electric — Made over $ 80 and paid no taxes
Boeing — Took in over $ 20 billion while slashing jobs, underfunding pensions and shafting contractors
Exxon Mobil — Paid less than 1% in U.S. taxes but still sucked down massive oil subsidies that YOU paid for
Verizon — Second worst tax record but grabbed a refund
Citigroup — One of the 5 Too-Big-to-Fail Banks taking in 3 cents out of every tax dollar. We supposedly can’t afford Social Security anymore and will have to throw Granny out of the nursing home but we can still afford to give BILLIONS to baksters
Dow Chemical — Received a refund despite almost $10 billion in profits.
IBM — Paid less than 3% in taxes
Chevron — 4.3% tax rate and a share of oil subsidies
FedEx — The company paid less than 5% in federal taxes while having the much maligned Post Office to deliver 30% of its ground packages.
Honeywell — Less than 6% in taxes
AT&T — An 8% tax rate
Apple — Avoids federal taxes, avoids state taxes, hides overseas earnings and underpays its store workers
Pfizer — A leaders in stockpiling untaxed profits overseas
Google — Pretends that its income comes from Bermuda to avoid paying U.S. taxes. Recognized as one of the world’s biggest tax avoiders.
Microsoft — Uses tax strategies to bring much of their untaxed money back to the U.S., where it also avoids state taxes.
Effectively, the American taxpayer covers the taxes avoided by these Corporations. Don’t you wish you could deduct them as dependents?
SOURCE: Portside (see links)