10 big companies that pay no taxes (and their favorite politicians)

Greetings ATSers,
You have to wonder what the hell is going on when the US Government fails to collect $78 Billion in Taxes from these 10 companies, but I guess when you look at the list of monetary donations made to named politicians your confusion will quickly turn into disgust.

Verizon Communications is at the top of the list with a whopping $19.8 Billion in proffits for 2011 - 2012 fiscal year and wait for it, has a tax rate of -3.2% !!!!

Top politicians who received cash from Verizon during this period are as follows:

President Barack Obama: $51,493
Sen. Robert Menendez (D-N.J.): $24,450
Sen. Mitch McConnell (R-Ky.): $23,700
Rep. John Boehner (R-Ohio): $22,500
Sen. Kirsten Gillibrand (D-N.Y.): $15,000

You can read through the whole list here

motherjones.com...

When is enough, enough?

PEACE,
RK

There couldn't be any better example of how this is both a democrat and a republican problem. Money is literally buying and selling votes in Congress. It doesn't matter the party, ideology, or words these people say because they are all up for sale to the highest bidder.

EDIT :

I will say there are some members of both parties that do stand up against this crap regularly but they are ignored and torn down as crazies on the fringe. The problem is these people don't add up to enough influence to change the culture of corruption.

reply to post by Rigel Kent

Great. Star and flag. I couldn't help but notice AEP of Ohio was number five on the list.....they just voted themselves a big raise this year, and three more such raises in the next 3 years. And if that isn't bad enough, we also have these "alternative energy" concerns signing people up over the phone, and then charging them double the amount of the bill. It happened to me, and it cost me over $600 to get free of them. I even called PUCO, who told me their hands were tied. Criminals all!

reply to post by Rigel Kent


Verizon gives money to every one and gave more money to super pacs (fund which private corporations can create for candidates that are hidden, not held accountable and unlimited).

Barack Obama backs The Buffet Rule which would stop the corporations low tax rates.

$54,000 was a pittance compared to the amount Verizon gave to other candidates.

Corporations and the elite getting out of their fair share of taxes is a direct result of Bush and Republican tax reform policies past in previous years.

Our household brought in 145,599. in income and paid a average of 18% federal taxes.

Let's see some ATS members give real numbers - how much did you make and what percentage did YOU pay in taxes.

In my opinion, we need to pass the Buffett Rule.

A straight tax, no loop holes for everyone, including corporations and Obama is trying against the Republicans to do this.

In America we really need to separate corporations and their bribery from our government.

Currently, our government is owned and run by the large corporations - our Congress and Senate, not the President are to blame......................they get medical and retirement packages the common person should get.

Personally, until we kick the corporations and military out of our government's bed, we are all going to suffer the consequences.

www.whitehouse.gov...



I showed you mine now show me yours.

Bunch of crooks.

reply to post by ofhumandescent


Santorum wanted a flat tax with no loopholes or deductions...

Nobody listens....it's the only way to fix things...get rid of ALL loopholes and deductions for EVERYONE , individuals and corps. It's the only way to make sure everyone pays....actually not, let me say one other way....no income tax at all and have a VAT tax...everyone buys stuff and those that can afford more will naturally buy more...one problem, more being bought out of the country..since most EU countries have a 25% vat...we could do between 10 and 20%?

The IRS and the tax code are a joke....

I am a firm believer in pure capitalism and free market...that does not include bailouts, stimulus or the wealthy and stealthy getting away with tax shenanigans.

reply to post by ofhumandescent


$117,000..paid about 24% and that was with college deductions and 1 child. About $1500 more than last year.

Buffett Rule: A procedural vote in the Senate on the so-called Buffett Rule is set for monday. The measure, which imposes a minimum tax on people earning over 41 million annually, is expected to fail. But Democrats are looking to put Senate Republicans on record voting against the tax.

Source: The Wall Street Journal & Daily Herald Sunday April 15, 2012. Daily Herald Section 3 - Front Page Investor's Calendar, This Week

George W. Bush - just smack in your face.



Buffet interview below



Again, I did a post when Bush Jr. was President and told ATS I paid less in Taxes then my cleaning lady and you folks said, "so what" or didn't believe me..................okay so you all that don't study politics and those that are screwing you over deserve to get exactly what you get.

We also need to drastically cut our military budget.

reply to post by Rigel Kent


I was surprised to see Rep. Ron Paul on the list. I guess none are above being bought and sold these days.

I'm just saying, if you had all that money wouldn't you support the politician who made the most sense to you.
I'm sure some of them do it because they're corrupt but some also do it for the right reasons,

Why should corporations pay taxes at all? Really. Think about it. All companies have expenses. Taxes are an expense to the corporation. When they sell something in the marketplace they must make a profit. Why? Because if they don't, they go out of business. They're stagnant. They cannot grow. Taxes are a disincentive to productivity, simply a drag on the company. Let's say a company pays 35% in corporate taxes. That's the high end. IT'S THE HIGHEST IN THE WORLD!. How do you think a company PAYS its taxes? It prices its widgets to include the cost of the taxes it is levied. So that means what? That you, the consumer, are the one who pays the corporation's taxes. This is in ADDITION to the personal income taxes you pay, but it's hidden from your view. You don't see it. You just think the cost of goods is high and you typically blame the corporations.

Let's put it another way. The government is stealing from you with the help of corporations. And you go right along with it and have this attitude that corporations aren't paying taxes? That's bad!! We neet a Buffet Rule because millionaires aren't paying enough taxes. That's bad!

Who the hell do you work for? The government? Where's your head? They are stealing your money! It's not THEIR money! When you say, well, corporations didn't pay $57 billion, so the government is not collecting it, it's not as if it's theirs in the first place. It's just that the corporations have found a way to keep the government from confiscating their hard-earned money.

You do exactly the same thing personally. You avoid taxes if you can. You take deductions if you can get away with it. You make decisions about your money in a way to minimize your "task risk." You avoid tax "penalties" if at all possible. If there is a way for you to "defer income" you'll do it in a heartbeat. Maybe it's a Roath IRA that grows tax free. Maybe it's throwing funds in a 401K. You'll take tax credits, too, just like corporations. If you can get a credit for installing insulation, an "energy" credit, you'll do it because a credit is worth more than a deduction. Speaking of deductions, if you can do a mortgage deduction, the biggest deduction most people can get, you'll do it and smile while your renter friends don't get it at all. That it isn't "fair" doesn't enter your mind. You just take it.

And what does the government do with the money it confiscates, the money that reprersents your labor? A lot of it they waste because they can never have enough. So right now government salaries are much larger than in the private sector. Their pensions are better, and if you're the GSA, you spend a million dollars for a lavish party in Vegas or maybe buy some prostitutes for the Secret Service in Colombia. The point is that government has no incentive to be frugal. It's a never-ending supply of money for them to spend as THEY see fit.

And you're part of the problem.

...and we all think our votes matter. Until corporations and lobbyists get out of the halls of congress, we will continue to be just peons.

Lots of traffic about this Buffet rule thing. Jimmy? No Warren...oh

They have this thing in the tax code called the "Alternative Minimum Tax" which I thought the purpose of was to make sure that no one can pay less than some minimum percent. Maybe there is a tax guy out there who can explain why that is somehow different than the Buffet rule. Probably since it has been around longer people have found ways to avoid it (increased taxes = decreased revenue).

www.irs.gov...

Topic 556 - Alternative Minimum Tax
The tax law provides exclusions for certain kinds of income and deductions and credits for certain expenses. The alternative minimum tax (AMT) attempts to ensure that an individual who benefits from certain exclusions, deductions, or credits pays at least a minimum amount of tax.

The AMT is a separately figured tax that eliminates or reduces many exclusions and deductions. In addition, certain credits (generally, business-related credits) cannot be used to offset the AMT. Thus the AMT increases the tax liability of an individual who would otherwise pay less tax. The AMT tax rates on ordinary income are percentages set by law. For capital gains and certain dividends, the rates in effect for the regular tax are used.

You may have to pay the AMT if your taxable income for regular tax purposes plus any adjustments and preference items that apply to you are more than the AMT exemption amount. The exemption amounts are set by law for each filing status and are listed in the Form 6251 Instructions.

To find out if you may be subject to the AMT, refer to the Form 1040 Instructions and the Form 1040A Instructions. If you are filing the Form 1040 you may use the AMT Assistant for Individuals, which is an electronic version of the AMT worksheet available on the IRS web page at www.irs.gov. The AMT worksheet may tell you that you do not owe the AMT or it may direct you to Form 6251, Alternative Minimum Tax - Individuals. If you are directed to Form 6251, you will have to complete that form to determine whether you owe the AMT. Form 6251 (PDF), Alternative Minimum Tax - Individuals, is available in a PDF format on the IRS web page.

If you are not liable for AMT this year, but you paid AMT in one or more previous years, you may be eligible to take a special minimum tax credit against your regular tax this year. If eligible, you should complete and attach Form 8801 (PDF), Credit for Prior Year Minimum Tax - Individuals, Estates, and Trusts.

So right now government salaries are much larger than in the private sector.

Going to go and look for a Gov job...

www.usajobs.gov...

Originally posted by schuyler
Why should corporations pay taxes at all? Really. Think about it. All companies have expenses. Taxes are an expense to the corporation. When they sell something in the marketplace they must make a profit. Why? Because if they don't, they go out of business. They're stagnant. They cannot grow. Taxes are a disincentive to productivity, simply a drag on the company. Let's say a company pays 35% in corporate taxes. That's the high end. IT'S THE HIGHEST IN THE WORLD!. How do you think a company PAYS its taxes? It prices its widgets to include the cost of the taxes it is levied. So that means what? That you, the consumer, are the one who pays the corporation's taxes. This is in ADDITION to the personal income taxes you pay, but it's hidden from your view. You don't see it. You just think the cost of goods is high and you typically blame the corporations.

Let's put it another way. The government is stealing from you with the help of corporations. And you go right along with it and have this attitude that corporations aren't paying taxes? That's bad!! We neet a Buffet Rule because millionaires aren't paying enough taxes. That's bad!

This is one of the most important things to realize.... the hidden taxes that we pay. And it still isn't enough for the greedy bastards that call themselves our government.

I hope people start to wake up and realize how bad we're disillusioned into thinking it's good.

~Namaste

And the Right-wing DELUDED NUT-CASES are against eliminating the Bush tax cuts for them.

If we got rid of the Bush tax holiday for them, maybe the money would go towards something USEFUL like paying off our debt and turning this country around instead of going into the pockets of SCUMBAG politicians.

These companies pay little to nothing in taxes and use that money to BRIBE our elected officials. Officials who are SUPPOSED to be representing US.

Public hangings have never been more necessary in the history of our country than right NOW...

Huston Texas companies take top billing with no less than 3 on the list in the top ten.

Texas can't look down at Louisiana anymore. I think this proves Texas is way more corrupt.

Look at the number of Texan politicians who received payoffs from these companies. Shocking.

reply to post by schuyler


Considering that most of what the U.S. Federal Government does revolves around corporations, corporations, and all large businesses, who operate primarily across state lines and international borders, should be the ones who primarily pay for the services they receive from the federal government.

Most of the Federal Governments General budgets goes towards enabling, policing, and protecting the vast assets of giant corporations.

That vast global military projection of power almost exclusively serves the needs of those conducting international trade.

The average working person or small business receives very little in benefits from the federal government. Mainly the tax of the middle class goes to subsidizing giant corporations, and that is a scam.

Goods and services provided by big business should include the cost to government that a nation incurs. It is a cost that corporations should be paying, not working class people.

If the cost of cheap goods made overseas included the costs incurred by the U.S. government, as they should,

U.S. labor costs wouldn't be inflated by worker taxes that only serve to subsidize those corporations, and overseas production,

then it would be a lot more fair competition for U.S. workers.

Time for U.S. workers to stop subsidizing the exportation of our jobs.

if you hate tax and the IRS, then support ron paul.
he thinks the best tax rate is 0% all round.

Verizon isnt getting out of taxes because of campaign contributions. It is about job creation. They want to open a call center. The white house wants the jobs in the us. So they provide subsidies. Then which state does it go in. More subsidies. Which municipality. More subsidies. That is how verizon had zero corporate taxes the past three years. If I read their financials correctly they were paying under bush. Not that it matters. Out of the 260 biggest companies in america 78 havent paid taxes in three years because of the subsidies.

I dont blame those companies at all. Its good business for them. I blame the idiots on the city council all the way to the white house for allowing this crap to happen. Side note. Obama was bitching about oil companies getting subsidies. He seemed to be alluding that it caused higher gas prices. But I look at a gallon of gas and see a third of the cost are fed, state and local taxes while the actual refining company only gets a 19 cent a gallon profit. Taxes are 8 times more than the gas companies profit per gallon. I wish such a large portion of our country didnt get so distracted by shiny objects.

Do not get mad at big business. If the various levels of govt are dumb enough to subsidize them... verizon is trying to make as much money as possible. I looked at one year and they turned a 15 billion profit. They recieved tax subsidies totaling about 13 million. Any of us would try to get the subsidies to increase profit 600%. But our govt subsidizes them over a bunch of ten buck an hour call center jobs.

if corporations are people, and people pay taxes, what does the supreme court have to say about this.

well, the supreme court might as well be a kangaroo court run by 9 monkeys.

to me the supreme court of the united states is completely irrelevant and have absolutely no respect for any of its decisions or take it seriously at all, if they can honestly say that mcdonalds and kfc are people.