there's a difference between "avoidance" and "evasion", the former is legal, the latter is a crime
Posted on 04/12/2015 9:16:07 AM PDT by Wolfie
Sanders blasts U.S Corporations for Dodging Taxes
BURLINGTON, Vt., April 9 – Sen. Bernie Sanders (I-Vt.), the Senate Budget Committee ranking member, today issued the following statement on new data showing the extent to which some American companies are avoiding taxes:
“I applaud Citizens for Tax Justice for releasing new data today revealing the unfairness of our tax system and the fact that a number of the biggest and most-well known corporations in America continue to pay little or nothing in taxes.
At a time when we have massive wealth and income inequality, and when corporate profits are soaring, it is an outrage that many large, profitable corporations not only paid nothing in federal income taxes last year, but actually received a rebate from the IRS last year.
Instead of balancing the budget on the backs of the elderly, the children, the sick and the poor, as the Republicans in Congress have proposed, we need a tax system that demands that large, profitable corporations and the wealthy start paying their fair share in taxes. I look forward to working with my colleagues in the coming months to make certain that happens.”
Top Ten Corporate Tax Dodgers from Citizens for Tax Justice’s Report
1. Not only did media giant Time Warner pay nothing in federal income taxes last year, it received a rebate of $26 million from the IRS even though it made $4.3 billion in U.S. profits.
2. CBS made $1.8 billion in U.S. profits last year, but instead of paying federal income taxes it received a rebate from the IRS of $235 million.
3. Xerox made $629 million in U.S. profits in 2014, but received a tax rebate of $16 million from the IRS.
4. Prudential Financial made $3.5 billion in U.S. profits last year, but instead of paying federal income taxes, it received a tax rebate of $106 million from the IRS.
5. The toy maker Mattel made $268 million in profits last year, but received a tax rebate of $46 million from the IRS.
6. Priceline.com not only paid nothing in federal income taxes last year, it received a tax rebate of $9 million, even though it made $73 million in profits last year
7. Pacific Gas and Electric not only paid nothing in federal income taxes last year, it received a tax rebate of $84 million from the IRS even though it made $1.8 billion last year.
8. Wireless technology maker Qualcomm made $3.2 billion in U.S. profits last year, but instead of paying federal income taxes, it received a refund from the I.R.S. of $98 million.
9. General Electric made over $5.8 billion in profits in the U.S. last year, but paid just 0.9 percent of that amount — less than one percent — in federal income taxes.
10. Jetblue Airways made $615 million in U.S. profits last year, but paid just 0.4 percent of that amount — less than half of one percent — in federal income taxes.
Why do companies move to other countries to escape the highest taxes in the world?
Cheap labor and no regulations.
Again, WHY THE DAMN REFUNDS!
Corporations don’t pay taxes. Ever.
Who passed the laws to ensure that corporations don’t pay taxes....those politicians should be put out of office and replaced. It is a sin that corporations don’t pay and even worse get a refund? WTF! I made 129 thousand in 2014 and not only paid income tax throughout the year but had to write a check to the federal government for 5,050 and one to Maryland (my last one) for 1,700. How the heck is that fair?????
Explain yourself. A corporation pays its employees and shareholders based on their profits.
the sanders family...
communists from long ago...
they need to go away
Excessive corporate taxation forces them to move to a foreign soil to protect profit margins and those who are for/vote excessive taxation moan about them leaving.
You can lead a liberal to water, but you can't make them think.
Yes so the workers pay their share....good.
Anyone who isn’t doing everything they can to pay as little taxes as possible is a blithering idiot.
There you are. The taxes are paid.
Any idiot that votes for Hillary just wants walking around money.
Without that corporation the employees and shareholders would be non-existent. Is that the liberal dream?
I have another question for you.
Why do you consider income taxation a good thing in this United States of America?
Sorry, you are wrong. I paid almost 50% this year conunting state taxes, Fed taxes, and SS/Medicare (15% on my salary). I have a small s corp.
No, all business taxes are paid by their CUSTOMERS. I am wearing my Economist hat right now. Taxes are ALWAYS passed on in the prices of goods and services. . . that is where the funds come from in the first place.
Well, I’m an employee and I sure didn’t see my no tax clause.
Those funds go to the government.
there's a difference between "avoidance" and "evasion", the former is legal, the latter is a crime
You are correct in the fact that rising taxes fall on the consumer. The taxes also fall on the employee and the shareholder, which in instances could be one in the same.
Explain to me why the government needs this money.
And General Electric followed the law exactly as written. The did not evade taxation, or even cheat on their tax returns. They followed the laws as written. . . you are swallowing the Socialists talking points just as they want you to. Keep shoveling it in, until you believe everything they feed you.
Did you ever wonder why????
—e W H A T! if ANY , is the percentages,of these corps
are guilty of this Tax Scam? What Senate & Congress VOTED
for these loopholes? What Donations did THEY get?
WHAT Loop Holes are they using to do this?
```What IRS (and when did they start and by what party?)
Loop Holes did they claim they used to accomplice this?
———————————What it from some 1919 Revenue bills
STILL being used to day? WAS it the OLD, IF I take any profits
and Immediately used to for NEW Equipment, and re-invest it in my company>?? is THAT their reasoning?
-———————————What PRESIDENT signed these bills and what Party Lobbied hard to these Get-Free-Money-Back Rebates? -—HOW”
————————————Or was it the “ My Company’s Majority is IN ANOTHER COUNTRY!
-—And WHAT LAW FIRMS lobbyist were involved in this?
-———WHAT PARTY received Major CORP. DONATIONS & from WHAT Companys played a part.
I KNOW, there are Stockholders, I also know that Some of the bigger Companies , Say “oil”- must spend BILLIONS in building Oil Tanks, BUILDING billion $ Platforms ,or DID they moved to a low industrial Areas to bring jobs to that state? Did the get kickbacks: No Tax. WHAT NATIONS did they move to?
There maybe some very needed reason for slow taxes/no taxes——B U T ! : GETTING A REBATE at ALL is Really a slap in the face.
—————————WHERE IS THE TRANSPARENCY !!!
p.s.” EVIL WILL PREVAIL IF ALL GOOD MEN STAND BY AND DO
NOTHING! Let us NOT have another “Ross Perot “ instance: breaking the votes first! RNC? are you hearing this? AND 7 million registered Republicans DID NOT VOTE!! : Because they merely DIDN’T LIKE McCain ?
That’ how Bam got in!! Well, HILDerBEAST is on her way!!
I Hope the DNC get MANY OTHER DEMS to R U N - and split HER ticket!
DARTH
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