Community | March 27, 2011 | 155 comments

Ten Giant U.S. Companies Avoiding Income Taxes

source: http://goo.gl/5NGln

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Agent_Alpha
10 giant U.S. Corps pay 0 tax = 4 Energy Corp,3 Banksters, 2 Weapons, Mfgr & Carnival Cruises.
http://goo.gl/5NGln

"With federal income taxes due in a few weeks, Sen. Bernie Sanders, the Vermont independent allied with Democrats on Sunday released a list of ten big profitable U.S. companies paying little or no taxes. Sanders wants to close the loopholes that make this tax avoidance legal. Some people call the income tax system with generous loopholes for big companies corporate welfare or corporate entitlements. As Congress returns to work this week--after yet another break--to negotiate over big budget cuts--with social safety net programs facing reductions--Sanders is pushing for corporations to pay more of a fair "share."

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[...]

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..."
  1. groups:
    Community,   Current Tonight,   Actual News,   Greatest Depression,   1 more
  2. tags:
    Taxes,  Big Business,  federal income tax,  Real Tax Evasion
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155 comments // Ten Giant U.S. Companies Avoiding Income Taxes

  • SparkyJP
    • 0
      SparkyJP  

    • Merchants have no country. The mere spot they stand on does not constitute so strong an attachment as that from which they draw their gains.
      Thomas Jefferson

    • 1 year ago
  • Radical_Centrist
    • -1
      Radical_Centrist  

    • America has the highest Corporate tax rate in the industrialized World. I mean it is even higher than the enlightened European Socialized countries. A company can have it's headquarters in Indiana and pay 35% or in Ireland and pay 12 where do you think they are going to go.

    • 1 year ago
  • jubal
    • +2
      jubal  

    • This is obscene and decadent to the extreme. America, the sleeping giant, needs to wake up and take this country back from these fucking elitists.

    • 1 year ago
  • Steamed_N_More
  • hmhn93
  • LivingPong
  • bike10
  • BigAL72
    • +3
      BigAL72  

    • What is amusing and amazing is the tea party's ignorance in their defense of these corporations. While America's infrastructure collapses, and the wars bleed us dry these corporations are living it up. Never in the history of this country has corporate abuse been so harmful to the nation. Never has a group of Americans, like the current tea party, have ever been more taken advantage of since the end of slavery.

    • 1 year ago
  • FoosMaster
    • +2
      FoosMaster  
    • BigAL72:

      Actually, there has been another time in history. It's called "The Great Depression". When are we going to actually LEARN from history and realize Why it happened?

    • 1 year ago
  • FoosMaster
    • +5
      FoosMaster  

    • There have been demonstrations in England over exactly this type of situation but we have heard almost Nothing about it here in the US. Our corporate controlled media is terrified that we will start having Huge demonstrations here in the US and they don’t want to show anything that could give anyone any ideas. I did see a very short clip on the news recently about the demonstrations in England showing a Few people trying to break the windows of one of the companies they were demonstrating against and the entire crowd was then called "Violent Rioters" so that the government had an excuse to break up the demonstrations and Ignore their message.
      When are WE going to get mad enough to take to the streets in Massive numbers that can no longer be ignored?
      I feel that there is a Big Change coming in the next elections and possibly sooner and the Republicans, Tea Partiers and their corporate masters are not going to like the results!

    • 1 year ago
  • grandavi
  • pissedoffinarkansas
    • +2
      pissedoffinarkansas  
    • FoosMaster:

      How 'bout WE start planning some kind of mass demonstration? the Egyptian revolution was started and "managed" via the internet, correct? Why can't we do the same. I'm talking about US,HERE AT CURRENT! Right now! Somebody with the know-how, set up a site we can go to and plan demonstrations and general strikes! If can coordinate dates and times, numbers won't matter as much, at least for now. It is important to be as ubiquitous as possible, geographically that is. Come on People! Let's DO something for a change. Personally I'm tired of taking up the a@#.

    • 1 year ago
  • FoosMaster
    • +1
      FoosMaster  
    • pissedoffinarkansas:

      There were recently some National rallies against BofA and the rallies were promoted here on Current by posters. As far as I know the rallies were only commented on by MSNBC and that was just a mention. None of the other "News" channels even mentioned the rallies that I know of, and I watched them specifically to see if they reported anything though I could have missed something, was kinda distracted by someone. There was Nothing on the Local news channels and my home city of Charlotte is the home of BofA.

      Those rallies were a good start but we need to keep things going. Current is the Only place that these types of rallies will find support and that is why I Love Current.

      Support the Common People! Eat the Rich!

    • 1 year ago
  • pissedoffinarkansas
  • SparkyJP
    • 0
      SparkyJP  
    • Image
    • grandavi:

      but it won't happen if we all keep voting repo and demo.

      This statement is so true! BOTH parties have sold their votes to the highest bidder. This corrupt government cannot be fixed. If you want change .........................................

      Support Revolution 2.0
      http://www.osixs.org/Rev2_menu_intro.aspx

      Overview:
      Welcome to the beginning of the second American revolution.
      The purpose is to educate and to move the United States and the rest of the world forward. We all know that something is terribly wrong with our country but we don't have a clue what to do about it. But we do know we cannot continue to sit around and do nothing. We are so confused, we don't realize how dangerous it is to continue voting for democrats and republicans. We've become mentally crippled and dependent on two parties and our current form of government. They can't help you. The best people to help the people are the people. Until you figure that out, you will remain lost.
      Welcome to the Revolution.

      Revolution 2.0 is a revolution in ideas and technology along with a vision to move this country forward. Read common sense 3.1 and the rest of the pages on the menu. This will give you a clear understanding of what the problems are, what we need to do about them and most important, how to proceed by taking real action. Our government didn't create itself and it can't fix itself. Problems never solve themselves…

      Common sense 3.1 is a call to action to address the problems of the nation.
      http://www.osixs.org/Rev2_menu_commonsense.aspx
      The second bill of rights are the baseline expectations and goals for Revolution 2.0
      http://www.osixs.org/Rev2_menu_billofrights.aspx
      The Declaration of Dissolution and Termination (DDT) is a formal and legal declaration of grievances prepared by the people of the United States to be served to the government of the Untied States. The declaration is also a formal and legal order by the people to the government of the united states to cease and desist specific government operations in accordance with instructions laid down by the Execution of Dissolution and Termination.
      http://www.osixs.org/Rev2_menu_Intro_DT.aspx
      The Execution of Dissolution and Termination (EDT) is the formal process and rules for dissolving parts or all of the old government and then terminating the old government after the new government has been fully implemented.
      http://www.osixs.org/Rev2_menu_Execution.aspx

      Yes, you guessed it - this ain't no tea party.

      What I do like about this movement, is that it gets the job done without violence. If violence breaks out; the government can impose martial law and the rest of your rights will be stripped from you. With your rights gone; your vote; your signature; and your opinion are irrelevant. With the frustration that is building in America; I can envision this possiblity. Revolution 2.0 sidesteps this pitfall.
      If you like what you see at this site; please vote here and let them know of your support:
      http://www.osixs.org/Vote.aspx

      When the representative body have lost the confidence of their constituents, when they have notoriously made sale of their most valuable rights, when they have assumed to themselves powers which the people never put into their hands, then indeed their continuing in office becomes dangerous to the State, and calls for an exercise of the power of dissolution.
      Thomas Jefferson

    • 1 year ago
  • ChrisMay
    • +5
      ChrisMay  

    • I am so sick of reading about this stuff, I am so sick of the political industry allowing it to happen, I am so sick of "the people" not creating a mechanism to fire politicians who do a bad job at this stuff, and then I am soo sick of reading people complain about it while still content to sit on their bee hind and just let it all roll along.

      All this while countless Americans are being liened, sued and levied upon for back taxes that don't amount to half a cup of cold water when compared to this story.

      Americans need to stop thinking that this problem is bigger than they are. Before you can reform taxes, you need to reform your political system. You need to be able to fire people who do a bad job, or no job as in this case, and replace them with the next qualified person in line. All this within a day.

    • 1 year ago
  • derk
  • morirjedi
    • +3
      morirjedi  

    • We can make it more exspensive to move jobs out. The main thing is to cut out the refunds first then figure out how to be fair and still get some revenue. That will never happen.

    • 1 year ago
  • ilikeike
    • +6
      ilikeike  

    • I think companies move out of the country because of cheaper wages, little or no social security contributions, and they can overpower or buy the governments in charge of public safety and environmental protections.

    • 1 year ago
  • wtthfkovr
    • +2
      wtthfkovr  
    • ilikeike:

      They all ready own the goverment here, from the small town all the way up. Big business owns the politicians, they yell shit and the politicians squat and ask what color

    • 1 year ago
  • pissedoffinarkansas
    • +9
      pissedoffinarkansas  

    • Why is everybody talking about this like it's breaking news?! These guys have been doing this shit for years!! How about we stop talking about this shit and do something?!! Christ, all anybody wants to do is TALK!! Fuck talking!! How about some kind of action!! Check out these sites,www.foavc.org or www.OsiXs.com. Join the fight and quit running your fucking faces!!

    • 1 year ago
  • grandavi
  • VFORVENDETTA
  • VFORVENDETTA
  • pissedoffinarkansas
  • pissedoffinarkansas
  • pissedoffinarkansas
  • grandavi
  • pissedoffinarkansas
  • pissedoffinarkansas
  • SparkyJP
    • 0
      SparkyJP  
    • pissedoffinarkansas:

      Great post! I'm onboard. I think what would help this movement would be to consolidate groups that you listed along with the many splintered groups that have the same goals. We need numbers. We need unity! I'm in the process of contacting these groups with this suggestion. I hope others do the same.

    • 1 year ago
  • dadevil
    • +7
      dadevil  

    • WE NEED TO CHANGE THE CORPORATE POLITICAL CONTRIBUTION LAWS - We can never have Fair leaders - WHEN they are already in corporation pockets.

    • 1 year ago
  • ramanan50
  • wizardofoz
  • SFirman
  • mitekillem
    • +4
      mitekillem  

    • Gas tax. Doesn't the US Government get money from every gallon of gas sold?
      If we want to tax them more, we could just raise the gas tax. However, the company will just pass it on to us.

    • 1 year ago
  • ramanan50
  • princefeliz
  • VFORVENDETTA
  • VFORVENDETTA
  • princefeliz
  • BrushwithDeathToothpaste
    • +6
      BrushwithDeathToothpaste  

    • Our corporate tax rate is too high so corporations are moving out of the US. I guess giving them money outright isn't enough. They won't be happy until we enter indentured servitude and allow them to eliminate child labor laws.

    • 1 year ago
  • VFORVENDETTA
  • extracrazykiwi2008
  • SparkyJP
  • mybologna
    • +7
      mybologna  

    • 60 minutes had an investitation on corporate deadbeats. Their conclusion? Many companies are bailing out from the US because of high corporate taxes. Many countries around the world are lowering their corporate tax to lure corporate jobs away from the US. Unfortunately they are succeding.
      The truth is that multinational corporations don't give a rat's ass about any country, including the US and yet we give them the rights and priviledges of a person. You can pass any law for them to pay their share and their CEOs and armies of lawyers will find a way to get around it, even if it includes taking their jobs and infrastructure overseas to tax havens. Add to that free trade agreements that allow trade without tariffs, and corporate political contributions and we have a no win situation. Obama was suggesting to lower the corporate tax and closing the loopholes to increase revenue. That might be a solution but the current corporate bought congress is more willing to lower the taxes than to close loopholes. Even if the loopholes are closed, they'll find new loopholes, or move their operations overseas to lower their tax liability. Since our trade agreements allow foreign corporations to do bussiness here without paying taxes (tariffs) it is a no win situation. It is a no win situation. We do live in a facist world where multinationals pit countries against eachother for their benefit. Fuck the World Bank, Fuck the WTO.

    • 1 year ago
  • Mark701
    • +4
      Mark701  
    • mybologna:

      I wish I saw that 60 Minutes. However I take issue with their conclusions. There is no lower tax rate than 0%. In fact these corporations pay taxes to the countries they operate in. Any corporation operating in China or India or Mexico etc pays more taxes to those countries than to the US. The only country they DON'T pay taxes to is America. Why is that? Because they've already purchased the American government and are in fact, running it. You don't charge taxes to yourself in that kind of situation. China on the other hand hasn't been purchased, yet. They keep a tight control over all commerce, and consequently, taxation. If these corporations try messing with the Chinese government they'll find themselves on ship bound for wherever.

      You have to remember that although the US has the second largest PUBLISHED corporate tax rate in the world (behind Japan), the ACTUAL taxes paid to the US are far lower, IF any are paid at all!

      That's why I laugh when conservatives say high taxation will force companies to leave America. Consider: If your manufacturing operations are already overseas, if you are aggressively eliminating US jobs in favor of foreign labor, if you pay no taxes in your "home" country, in reality you've already left. The only reason their corporate HQ's are still here I think is because it gives them access to Fed money and allows them to be traded on Wall Street. However, and mark my word on this, if and when the dollar falls from grace as the worlds predominant reserve currency, even their HQs will be moved overseas. Of course, when it happens, they'll blame Americans for having the audacity to want a fair wage and benefits for a days work.

      On the bright side, once they are gone, I believe the American recovery can begin. There will be no point to bribing politicians via lobbyists if there is no perceived gain in doing so. Once the money is gone, the influence is gone and the politicians will once again have to listen to the people who live here.

    • 1 year ago
  • ampersand
    • +3
      ampersand  
    • Mark701:

      That is a perfectly accurate review of the relationship of big business to the US government and the US economy.
      You see where that is leading though. The nature of unrestrained personal interests fused with the instant liquidity that modern capital movement has, means, that for all practical purposes, until the entire planet is reduced to toxic rubble, we have an essentially omnipotent, irresistible (and by definition, unconscionable), destructive force raging across the surface of the planet.

      The probability that every government on earth could suddenly honestly face the intrinsic horror of the mechanism we've all come to depend on for delivering the goodies to us and effectively rein it in are, given what I know about human nature, approximately zero.

      I guess the true measure of alienation, (or desperation) is when you begin to look at global catastrophes as a possible breathing space for the human race.

      In truth, it's an uninvited view that has begun to settle in as long time guest in my household.

    • 1 year ago
  • mybologna
  • mybologna
  • nanac
    • +9
      nanac  

    • This is ridiculous, something is definitely wrong with this picture..Something has to be done about this unfair tax system..We need to hit them where it hurts, in the pocketbook. Money talks, stop purchasing their goods and services..

    • 1 year ago
  • LivingPong
  • alexandrek
  • nanac
  • Agent_Alpha
  • David_H
  • dinm76
  • Milieu
  • David_H
  • Milieu
    • 0
      Milieu  
    • David_H:

      been there. done that. live in a red state where even when I talked to people "Officially" as spokesperson for a House member, it doesn't matter.

      My House member is gone, much thanks to Kochs and Gates.

    • 1 year ago
  • SparkyJP
  • altair83
    • +14
      altair83  

    • Well, according to republicans, the real problems are all those greedy federal workers (who earn 45000 a year before taxes), social security, the progressives etc.. It is disgusting to see how a bunch of puppets of corporations destroy this country.

      Why the hell didn't the democrats use information like this in the previous election???

    • 1 year ago
  • David_H
  • dinm76
  • 2warsoffbooks
  • KB723
  • Milieu
    • +11
      Milieu  

    • "and they are calling Unionist the problem of America"

      They are. Those greedy ba$#&s are causing the Corps to have to spend money on people instead of more investments for the Oligarchs.

      can't get much greedier than that.

    • 1 year ago
  • David_H
  • dinm76
  • Olando
    • +5
      Olando  
    • David_H:

      Uhhh what? Unions are interested in the people that work for the corporations. That is a special interest group that you can get behind. The workers are the only reason the companies can make the money that they do, they should be represented rather than controlled by their employers. Having workers represented and heard are in the interests of everyone because most of us work for living.

      Your argument is nonsense.

    • 1 year ago
  • David_H
  • kgMA
    • +2
      kgMA  
    • David_H:

      "union employees don't give a crap about anyone but their union brothers" That is a pile of BS my friend! When the rest of the country catches up with the real feeling of brotherhood, then they will understand the true nature of people in unions! Unions are for the rights of people and a better life for everyone. Not just their brothers and sisters..

    • 1 year ago
  • Milieu
  • cmc101
    • 0
      cmc101  
    • David_H:

      like Hello the airlines have strike pools to fight strikes the steel mills have the same.G.E and Westinghouse . Motorola . your sorry ass
      listen to the song 16 tons it was real coal miner daughter was real slave labor and sweat shops are still alive today here in America if you don't believe it then you are on the right page with your god so enjoy your religious orgasm .

    • 1 year ago
  • alexandrek
  • dinm76
    • +3
      dinm76  
    • alexandrek:

      Telling people that our financial problems are the cause of doctors, teachers, firemen, police officers and snow plow drivers is right up there with selling the ideas that our own government is our enemy and that making the rich richer will bring more jobs to the middle class in this country. Pure garbage!

    • 1 year ago
  • ramanan50
    • +6
      ramanan50  

    • This after what their fancy accountants and Financial consultants cooked up the Books.
      Imagine what could have been the Tax Liability otherwise.

    • 1 year ago
  • Straighttalker
    • +11
      Straighttalker  

    • Its a shame! When someone can entertain the idea on making billions of dollars in profits and see nothing wrong with not paying corporate taxes, but argue that poor people must pay taxes - that is a very low form of life.

    • 1 year ago
  • David_H
  • dinm76
  • kgMA
  • VoyagerFilms
  • mrtraffic
    • +2
      mrtraffic  
    • VoyagerFilms:

      But if they hurt a multi-billion dollar MNCs who is going to pay for all of their 30 sec ad spots aimed at people who make being uninformed and easily swayed by conjecture and misinformation a zen art

    • 1 year ago
  • randallr01
  • David_H
  • dinm76
  • kgMA
  • DoolittleLynn
  • VoyagerFilms
  • alexandrek
  • dinm76
  • 2warsoffbooks
  • kgMA
  • Milieu
    • 0
      Milieu  
    • kgMA:

      No, no that link can't be correct. Beckerhead told me just the opposite.

      And since Beckerhead has a direct line to GAWD, he always tells the truth.

    • 1 year ago
  • Incredulous
  • David_H
  • BenjaminDover
    • +1
      BenjaminDover  
    • David_H:

      I've been boycotting Exxon since Valdez,
      Bank of America and chase since the bailout,
      Wallmart sucks boycotted since word of putting their workers on public asst.,
      Target for their backing anti-gay politician,
      BP since the explosion,
      Coca cola for backing repubics,
      GE for bringing things to death,
      All this shit can be avoided, buy from small local vendors, Citgo is my preferred gas station, buy local produce, grow your own victory garden. Fuck the Corps.e.
      End the Plutocracy!

    • 1 year ago
  • David_H
  • BenjaminDover
  • deane
    • +5
      deane  

    • The workers of the middle class and poor are no longer human beings, just numbers on some corporate paper work. It might be great to rise up against this now, just seems it will have to get even worse for the workers, because America is still this great country to so many people. If we gave 2012 to the tea baggers it would speed things up, not that desperate.

    • 1 year ago
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