Top 10 Corporate Tax Dodgers & Their Paid Politicians

[DamianTV]

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


Between 2008 and 2011, 26 major American corporations paid no net federal income taxes despite bringing in billions in profits, according to a new report (PDF) from the nonprofit research group Citizens for Tax Justice. CTJ calculates that if the companies had paid the full 35 percent corporate tax rate, they would have put more than $78 billion into government coffers.

Here's a look at the 10 most profitable tax evaders and the politicians their CEOs, employees, and PACs give the most money to.

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
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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

American Electric Power: Electric utility based in Columbus, Ohio
Profits: $8.2 billion Effective tax rate: -6.4%
Top recipients, 2011-2012
Rep. John Boehner (R-Ohio): $34,750
Rep. Steve Stivers (R-Ohio): $34,050
Rep. Bob Gibbs (R-Ohio): $21,700
Sen. Joe Manchin (D-W. Va.): $19,750
Sen. Sherrod Brown (D-Ohio): $18,450

Pacific Gas & Electric: California electrical utility
Profits: $6 billion Effective tax rate: -8.4%
Top recipients, 2011-2012
President Barack Obama (D): $6,250
Rep. Jim Costa (D-Calif.): $5,000
Rep. Kevin McCarthy (R-Calif.): $5,500
Rep. Fred Upton (R-Mich.): $5,000
Rep. Jeff Denham (R-Calif.): $3,500


Apache: Houston-based oil and gas company
Profits: $6 billion Effective tax rate: -0.3%
Top recipients, 2011-2012
David Dewhurst (R-Texas): $25,000
Rep. Connie Mack (R-Fla.): $5,000
Rep. Bill Cassidy (R-La.): $2,500
Rep. Mike Conaway (R-Texas): $2,500
Rep. Gene Green (D-Texas): $2,500
Sen. Mitch McConnell (R-Ky.): $2,500
Brendan Doherty (R-R.I.): $2,500

Consolidated Edison: New York energy company
Profits: $5.9 billion Effective tax rate: -1.3%
Top recipients, 2011-2012
Sen. Maria Cantwell (D-Wash.): $15,050
Sen. Kirsten Gillibrand (D-N.Y.): $8,000
Rep. Edolphus Towns (D-N.Y.): $6,650
Then-Rep. David Wu (D-Ore.): $2,500
Rep. Joseph Crowley (D-N.Y.): $1,500
Sen. Harry Reid (D-Nev.): $1,500
Rep. Jose Serrano (D-N.Y.): $1,500

El Paso: Houston-based energy company that operates the country's largest natural gas pipeline
Profits: $4.6 billion Effective tax rate: -0.9%
Top recipients, 2011-2012
David Dewhurst (R-Texas): $7,500
Mitt Romney (R): $5,000
Rep. John Barrow (D-Ga.): $3,000
Rep. Diane Black (R-Tenn.): $2,750
Sen. John Barrasso (R-Wyo.): $2,500
Sen. Max Baucus (D-Mont.): $2,500
Sen. Mitch McConnell (R-Ky.): $2,500
Gov. Rick Perry (R-Texas): $2,500
Rep. Fred Upton (R-Mich.): $2,500
Sen. Roger Wicker (R-Miss.): $2,500

CenterPoint Energy: Electric and gas utility company based in Houston
Profits: $3.1 billion Effective tax rate: -11.3%
Top recipients, 2011-2012
David Dewhurst (R-Texas): $22,050
Gov. Rick Perry (R-Texas): $13,458
Sen. Mitch McConnell (R-Ky.): $10,299
Rep. Greg Walden (R-Ore.): $7,000
Rep. Kevin Brady (R-Texas): $4,000

[slamhead]

The numbers here are pure BS. The combined profits are $193 billion over four years. At 35% that would be $67.8 billion in taxes. I don't know what they mean with the negative tax rate. Is that negative down from 35%?

For argument sake lets use their $78 billion figure. Under 2012 spending it would fund the government for 7 1/2 days. Spread that across four years and it would fund the government for 1.4 hours.

Even if they were to tax these companies at 100% for four years it would only fund the federal government for 18.5 days under the 2012 spending. Spread this over four years, taxing these companies at 100% would fund the government for 7.2 hours.

[libertyjam]

The numbers here are pure BS. The combined profits are $193 billion over four years. At 35% that would be $67.8 billion in taxes. I don't know what they mean with the negative tax rate. Is that negative down from 35%?

For argument sake lets use their $78 billion figure. Under 2012 spending it would fund the government for 7 1/2 days. Spread that across four years and it would fund the government for 1.4 hours.

Even if they were to tax these companies at 100% for four years it would only fund the federal government for 18.5 days under the 2012 spending. Spread this over four years, taxing these companies at 100% would fund the government for 7.2 hours.


The numbers are not BS. From another article or thread on here last week that negative tax rate meant that these largest corporations despite making billions in profits, actually received money from the government in tax kick-backs and subsidies. I remember Verizon was the biggest one listed then in that it not only not paid any taxes but received a net 900+ million dollars in government subsidies, or almost a billion dollars. I'm not going to bother trying to find that thread again, but you are more than welcome to on your own.

[slamhead]

The numbers are not BS. From another article or thread on here last week that negative tax rate meant that these largest corporations despite making billions in profits, actually received money from the government in tax kick-backs and subsidies. I remember Verizon was the biggest one listed then in that it not only not paid any taxes but received a net 900+ million dollars in government subsidies, or almost a billion dollars. I'm not going to bother trying to find that thread again, but you are more than welcome to on your own.

Still the same what we are talking about is not even equivalent of a drop in the ocean.

To put it into perspective.


http://www.youtube.com/watch?feature=player_embedded&v=jboTeS9Okak#!

[libertyjam]

Like that makes it OK.

[slamhead]

Like that makes it OK.

I am one that believes that there should not be any corporate income taxes. It is blatant double taxation. A corporation is made up of its employees and investors. The employees pay federal income taxes. The investors pay capital gain taxes and taxes on dividends. Corporate income tax is just theft by the federal government before the profits can be shared with the employees and investors. All these numbers above point out is a symptom of the sickness. The sickness being the size and scope of the feds that allow them to sell influence.

[kcchiefs6465]

Rep. Ron Paul (R-Texas): $20,986
That really surprises me.

[mport1]

Good for them. I support everybody who can dodge the theft of their property.

[XTreat]

Rep. Ron Paul (R-Texas): $20,986
That really surprises me.

Boeing is a big military contractor, lots of former military working for them. RP also gets a lot of money from Lockheed, Northrup-grubman, and General Dynamics, all corporations that hire a high % of former military.

[DamianTV]

I suppor the total elimination of Corporate Income Taxes.

(notice the strikethru)

[QuickZ06]

I suppor the total elimination of Corporate Income Taxes.

(notice the strikethru)

Here, here.