32 companies dodged 72 billion in taxes in 2012

[xchrom]

[beachbum bob]

1. this needs to come to an end

Why does conservative mindset not see it as a wrong?

[mother earth]

2. While we cut food stamps for the most vulnerable. Shameful, culture of greed & byproduct of

our hijacked "corporate" system....SCOTUS enabled. That money's going somewhere...pockets being filled, policy and laws to dictate.

[Dreamer Tatum]

3. DU's Apple shill(s) have assured us this is all quite legal.

So get over it.

[indepat]

5. If legal, the Congress would have had to commit misfeasance on behalf of large corporations

[Dreamer Tatum]

8. Suggest you PM onehandle, an Apple shill, who will set you straight. nt

[Dyedinthewoolliberal]

4. Iamgine how much income

they had to have to generate that much in taxes. That's what I find so puzzling. It's not as though they are being asked to not make a profit........

[NightWatcher]

6. But we must cut food stamps for hungry kids!!!

Who are the real deadbeats?

[leftstreet]

7. DURec

[rurallib]

9. that is probably just federal taxes

Plenty more in state and local taxes, I am sure

[G_j]

10. There are plenty of state subsidies also.

http://billmoyers.com/2013/09/24/average-american-family-pays-6k-a-year-in-subsidies-to-big-business/

---
The subsidies mentioned above are federal subsidies. A New York Times investigation found that states, counties and cities give up over $80 billion each year to companies, with beneficiaries coming from: ”virtually every corner of the corporate world, encompassing oil and coal conglomerates, technology and entertainment companies, banks and big-box retail chains.”

$80 billion a year is $696 for every US family. But The Times notes that “The cost of the awards is certainly far higher.”
---

[B Calm]

11. Do you have the list of companies?

[xchrom]

13. partial list

http://www.huffingtonpost.com/2013/06/03/apple-tax-havens_n_3378935.html

Apple may be getting all the attention from lawmakers and the news media for its offshore tax practices, but a new report finds that other major companies are using similar tactics to avoid paying taxes on billions of dollars in profits.

At least 18 companies, including Nike, Microsoft and Apple, are stashing profits in offshore tax havens likely in a bid to avoid paying taxes, according to a new report from the Citizens for Tax Justice, a left-leaning research group. If the companies brought that money home, they would pay combined more than $92 billion in U.S. taxes, the report found.

“It’s misguided to say it’s some unique thing that Apple has created," said Matthew Gardner, the executive director of the Institute on Taxation and Economic Policy, a research partner of CTJ. "A lot of big companies are very likely doing it.”

A Nike spokesperson declined to comment on the report. Microsoft and Apple didn’t immediately return messages from The Huffington Post seeking comment.

Apple came under fire last month after a Senate hearing revealed that the company paid just 2 percent in taxes on $74 billion in profits by housing its money in an Irish subsidiary that hadn’t declared its tax residency anywhere in the world. Apple CEO Tim Cook told lawmakers that the company pays “all the taxes we owe,” which, while technically true, offers an example of the larger issue of corporate tax avoidance that some lawmakers are targeting.

from 2011

http://ctj.org/ctjreports/2012/04/big_no-tax_corps_just_keep_on_dodging.php#.UnamLe1qP8s





more here

64 Major U.S. Corporations Only Paid 8.1% in Taxes

http://www.dailykos.com/story/2013/03/20/1195554/-64-Major-U-S-Corporations-Only-Paid-8-1-in-Taxes



and more

10 Big Companies That Pay No Taxes (and Their Favorite Politicians)

Verizon Communications
Profits: $19.8 billion Effective tax rate: -3.8%
Top recipients, 2011-2012
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

General Electric
Profits: $19.6 billion Effective tax rate: -18.9%
Top recipients, 2011-2012
Mitt Romney: $53,750
President Barack Obama (D): $30,493
Sen. Scott Brown (R-Mass.): $23,900
Rep. Howard Berman (D-Calif.): $21,860
Rep. Chris Murphy (D-Conn.): $19,750

Boeing
Profits: $14.8 billion Effective tax rate: -5.5%
Top recipients, 2011-2012
Rep. Buck McKeon (R-Calif.): $31,750
Rep. Adam Smith (D-Wash.): $25,000
Former Sen. George Allen (R-Va.): $23,500
Sen. Maria Cantwell (D-Wash.): $23,125
Rep. Ron Paul (R-Texas): $20,986

NextEra Energy: North America's largest solar and wind power operator, based in Florida
Profits: $8.8 billion Effective tax rate: -2%
Top recipients, 2011-2012
George LeMieux (R-Fla.): $9,500
Mike Haridopolos (R-Fla.): $4,800
Sen. Maria Cantwell (D-Wash.): $2,000
Rep. Ron Paul (R-Texas): $2,000
Rep. Tom Rooney (R-Fla.): $2,000


***some of these are from 2011 -- i would expect to see them use the same dodges for future tax receipts.

http://www.motherjones.com/mojo/2012/04/top-tax-dodging-companies-politicians

[B Calm]

14. Thanks!

[malaise]

12. Sick sick sick

K & R

[pansypoo53219]

15. crapitalism. forgot henry ford. ayn rand is killing them.