"Maybe we have to reduce that deficit not simply on the backs of working families, low-income people, the children, the sick, the elderly. Maybe, maybe we might want to call for shared sacrifice. Maybe Exxon-Mobil and some of the large oil companies might be asked to pay something in taxes."
talking about my b....b....b....budget.....
Sen. Sanders' 10 worst corporate income tax avoiders.
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.
yesirree, Bob.... we'za broke.... and it is the goddam Union Teachers what done it!!
12 comments:
if this doesn't make your blood boil then you must be a cold hearted republican.
if it's not enough by itself to make one's blood boil, figure in how gas prices have soared, and banks are charging people for just walking in the door. if you have an investment account, even if it's just for a retirement account, you pay more in fees than what you're getting in interest. and yet, the teabagging idiots are perfectly okay with that.
General Electric made $26 billion in profits in the United States, it received a $4.1 billion refund from the IRS.
funny how NBC news outlest ignored this bit of news but still had time to have several flufy pieces.
More to the point all these interesting facts were largely ignored on the evil "liberal" media.
Makes the heartstrings sore from being pulled on, doesn't it (sniff)?
Going into the 2012 election, we need a tsunami of public sentiment demanding shared sacrifice that puts the rich and the corporations at the head of the sacrificial line.
If the billionaire Koch brothers and Dick Armey's tea bagger tools can get out and raise hell to achieve their brain-dead agenda, maybe the rest of us should show them and the pols what a real hell-raising uprising looks like.
Raise the top marginal tax rate to 85 percent and reform corporate taxes so two-thirds of them pay instead of two-thirds not paying, and in seven years see how much of that $1.4 trillion deficit is left.
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I'm with SW here. We can have more of the same mean-spirited greed in 2012 or we regular folks can get our butts out and demand some equitable treatment. Billions of profits, tax loopholes, and yet the ones making the sacrifices are the least able to.
85%? SWA, you're much too kind. 90% at minimum.
Uh, Liberality.....your (apparent) pal, Obama, is real tight with the CEO of GE.
Moral: Both parties are at fault here.
UH, anon.... first, get a name...second, there is no correlation between 'who' Obama knows and the fact that GE pays no taxes. That is one awesome casual link. Any tax code that would allow GE to pay nothing would have been established under the Bush Admin cuts.
Think of it as 'illustrative', not a 'casual link'........
Anon not illustrative, not informative,not illuminating... really not much of anything. Time to change your bulb.
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