That number represents the top 12 Corporations that not only don’t pay taxes, they actually get a refund check from the IRS. So, with it being Tax Day for all us ‘little people’ lets look at a few of these douchenozzles and how they keep all their money and take some of our money in the form of tax rebates by using a new report put out by PublicCampaign.Org.
Twelve large American corporations have been identified by news reports, nonprofit organizations, and elected officials as paying little or no federal income taxes. Collectively, these one dozen corporate tax dodgers have benefited dramatically – in tax loopholes, bailouts, and subsidies – from the more than $1 billion dollars they have invested into influencing Washington. As Americans pay their taxes this month, it is important to understand that our political system lets these corporations off the hook while the rest of us foot the bill.
Ah yes…loopholes and lobbying, why it’s the American Way people! First one on the OIL list is ExxonMobil:
Quick Facts on ExxonMobil
Campaign Contributions: Total Over 10 Years (2001-2010), $5.7 million
Lobbying Expenditures: Total Over 10 Years (2001-2010), $138 million
Government Contracts: $840 million in 2008; $6.8 billion from 2000-2008
Profits in 2009: $19 billion
Taxes Paid for 2009: $0
Tax Rebate for 2009: $156 million
Well, I guess that nice little tax rebate probably paid for most of their lobbying, with a few million left over to hand out to their top execs. Now, lets look at the top bank that royally fucked us over AND got a lovely parting gift in the form of Bailout Funds to boot …Bank of America:
Quick Facts on Bank of America
Campaign Contributions: Total Over 10 Years (2001-2010), $11 million
Lobbying Expenditures: Total Over 10 Years (2001-2010), $24 million
Bailout Funds: $20 billion to save itself, $25 billion to buy Merrill Lynch, $118 in loan guarantees
Profits in 2010: $4.4 billion
Tax Refund for 2010: $1.9 billion
Gee, I really think BofA should be the top dog in screwing us over as they got a tax refund and bailout funds as well. Bless that bank, they sure know how to get their hands on that Corporate Welfare, don’t they? The third group is known as theTransportation group. Their top carpetbaggin corporation is….drumroll please…Boeing:
Quick Facts on Boeing
Campaign Contributions: Total Over 10 Years (2001-2010), $10 million
Lobbying Expenditures: Total Over 10 Years (2001-2010), $115 million
Government Contracts: $24 billion in 2008; $169 billion from 2000-2008. Recently received $35 billion contract from Pentagon.
Taxes Paid in 2010: $0
Tax Refund in 2010: $124 million
All those nice government contracts, zero paid in taxes and a beautiful tax refund to boot. What more could they ask for? Next is the Telecom and Technology groups:
Quick Facts on Verizon
Campaign Contributions: Total Over 10 Years (2001-2010), $12 million
Lobbying Expenditures: Total Over 10 Years (2001-2010), $131 million
Government Contracts: $488 million in 2008; $5.1 billion from 2000-2008
Profits in 2010: $12 billion
Taxes Paid for Last 2 Years: $0
Verizon’s CEO must be very very happy, wouldn’t you think? After all, they hosed us on lots of different levels.Their campaign contributions round out to roughly 1.2 million a year.
Shared sacrifice my brown ass. None of these greedy Corporations share, they just take and take and then pay off all those lovely Congress Critters. I guess you could say they share with their bought and paid for Congress Critters, they sure as hell aren’t sharing with us, the taxpayers.
Obama said Wednesday, during his speechifying, that he wants to tax the rich…he needs to start with taxing The Corporatocracy, and shit-canning all those loopholes they use to screw us over..all the while, with a smile on their faces and cute commercials about how they give back by helping Main Street.