December 12, 2012 - Taxes Anyone?

Taxes Anyone?

What U.S. corporations are able to get away with is absolutely amazing.

The following figures come directly out of a report by Citizens for Tax Justice.  These are combined figures for the tax years 2008, 2009 and 2010.

During those three years, all of the corporations below made a lot of money.  Yet all of them paid net taxes that were below zero for those three years combined.

How is that possible?  Well, it turns out that instead of paying in taxes to the federal government, they were actually getting money back.

So for these corporations, their rate of taxation was actually below zero.

If you have not seen these before, you are going to have a hard time believing some of these statistics…..

Profits: $4.9 billion
Taxes: -$34 million

*Fed Ex*
Profits: $3 billion
Taxes: -$23 million

*Wells Fargo*
Profits: $49.37 billion
Taxes: -$681 million

Profits: $9.7 billion
Taxes: -$178 million

Profits: $32.5 billion
Taxes: -$951 million

Profits: $2.1 billion
Taxes -$72 million

*American Electric Power*
Profits: $5.89 billion
Taxes -$545 million

*General Electric*
Profits: $7.7 billion
Taxes: -$4.7 billion

Are you starting to get the picture?

taken from:

In reality, only corporations (i.e. legal persons) can lawfully be taxed and yet not only are these not paying tax, they are taking tax money that that is suppose to benefit the people.

Go figure...

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