6 Rigged Rules Corporations Use to Dodge Taxes

[Brewman_Jax]

http://www.alternet.org/economy/155007/6...dge_taxes/

From the article:

Quote:As American families rush to complete their annual tax returns, many will have paid more in federal income taxes than some of America’s largest and most profitable corporations. AT&T, Boeing, Citigroup, Duke Energy and Ford collectively reported more than $20 billion of US pre-tax income last year, yet none of them paid a dime in federal income taxes. Instead, they claimed refunds of more than $1.3 billion from the IRS. 

These corporations are not alone in turning tax dodging into a competitive sport. Last year, US corporations paid an effective tax rate of just 12.1 percent, the lowest level in the last forty years, according to the Congressional Budget Office. Sixty years ago, when Republican President Dwight Eisenhower lived in the White House, corporations paid 32 percent of federal government’s tax receipts; last year they paid 9 percent.

Below are six examples of how large corporations have rigged the tax rules to ensure that those who have the most get to amass even more, at the expense of everyone else. Figuring out how to unrig them is not rocket science, but it will require strong public pressure on lawmakers to ensure that America’s most prosperous corporations pay their fair share.

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What's worse is not only are these big corporate tax-dodgers NOT paying taxes, but they're getting gov't subsidies to run their businesses. Note that the GOP has nothing to say about that, but they're screaming bloody murder about the deficit and welfare fraud. They whine that "those people" are spending all of the gov't money and that the gov't can't afford it. An army of "those people" couldn't get a fraction of the money GIVEN away as corporate wealth-fare.

There would be no deficit if Big Business had to pay taxes like everyone else.

[SeattleGirl]

This is one of the things that pisses me off the most! I pay my taxes, I don't hide money away in the Caymans, and I don't have a gazillion loopholes to get away with not paying my fair share.

Damned corporations and uber rich individuals should have to pay their fair share too, AND they should get get subsidies and other stuff on top of those loopholes.

And the damned Republicans have the nerve to paint any of us who aren't part of their little world as loafers, freeloaders, lazy people, etc.!