FREELOADER OF THE WEEK: Honeywell Corp. From 2009 to 2010, not - TopicsExpress

FREELOADER OF THE WEEK: Honeywell Corp. From 2009 to 2010, not only did Honeywell pay no federal income taxes, it received a $510 million tax refund from the IRS even though it made a combined profit in the U.S. of almost $3 billion. In 2012, Honeywell stashed $11.6 billion in offshore tax havens to avoid paying U.S. income taxes. Honeywell would owe an estimated $4.06 billion in federal income taxes if its use of offshore tax avoidance were eliminated. David Cote, the CEO of Honeywell, made more than $25.4 million in total compensation last year. Mr. Cote wants to raise the eligibility age for Medicare and Social Security to 70 and make significant cuts to Social Security as a member of the Business Roundtable.

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