If corporations are people, why arent these ones being arrested for tax evasion? Between 2008 and 2011, 26 major American corporations paid no net federal income taxes despite bringing in billions in profits, according to a new report from the nonprofit research group Citizens for Tax Justice. CTJ calculates that if the companies had paid the full 35 percent corporate tax rate, they would have put more than $78 billion into government coffers. (source: Mother Jones) Verizon earned $19.8 billion in profits, yet had an effective tax rate of negative 3.8%. General Electric earned $19.6 billion – with an effective tax rate of negative 18.9%! The list goes on. So why arent these companies in jail? Because theyre not breaking the law – theyre following the truly asinine laws that let them get away with this. So while millions of Americans are doing their duty and paying their taxes, these companies are using loopholes to pay nothing – and even get money back. There are many, many proposals to restore fairness and sanity to the corporate tax code, and make these companies pay their fair share. But the Republican-led Congress has refused to act. Enough is enough. Tell Congress to take action, and stop letting big corporations dodge taxes. leftaction/action/big-corporations-dodge-taxes
Posted on: Tue, 15 Apr 2014 22:21:39 +0000
Trending Topics
Recently Viewed Topics
© 2015