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

[Serpo]

Between 2008 and 2011, 26 major American corporations paid no net federal

Bribery saves so much money;D


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




income taxes despite bringing in billions in profits, according to a new report (http://www.ctj.org/pdf/notax2012.pdf) (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, OhioProfits: $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 utilityProfits: $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 companyProfits: $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 pipelineProfits: $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
Giving data from the Center for Responsive Politics (http://www.opensecrets.org/). Includes all 2011-12 campaign donations from each company's employees and corporate PACs.

[FreeEnergy]

I'm sure a bunch of them are owned by Warren Buffet and his Wall Street friends.

[chad]

i see ron paul is on there.

[FreeEnergy]

I don't see a single bank on this list. A ok try, but not great, TPTB can sleep well tonight.

Bank Of America Paid Nothing In Federal Income Taxes Last Year And Got Almost $1 Billion From Taxpayers
http://thinkprogress.org/economy/2011/03/28/153790/bank-of-america-taxes/?mobile=nc

[Serpo]

This is how the whole thing works ....pay off the politicians ....pay no tax.......screw everyone and the world.....

[Serpo]

I don't see a single bank on this list. A ok try, but not great, TPTB can sleep well tonight.

Bank Of America Paid Nothing In Federal Income Taxes Last Year And Got Almost $1 Billion From Taxpayers
http://thinkprogress.org/economy/2011/03/28/153790/bank-of-america-taxes/?mobile=nc

True list would be huge ,Im guessing

[Cebu_4_2]

If you own your own company and don't post profits you pay no taxes. Anything tax deductible goes towards this. This is really a no brainer.

[palani]

Disregarded entities are not regarded. Their member-owners pay the taxes when distributions are made.

[learn2swim]

I think that's employees of those corporations making donations, not the corporations themselves.

[ShortJohnSilver]

What about gross receipts taxes? Fuel taxes on the vehicles that employees drive? Etc. I am not saying they should be able to get away with it, but I calculate that when I write off my 50 cents per mile for business, the included taxes still end up taxing me at 15% or more.

[Hatha Sunahara]

Taxes do not apply to these huge corporations. They have lawyers that make that determination based on the law. Most people don't understand that the IRS makes a big deal of how the income tax is 'voluntary', but they don't tell you that it doesn't apply to you. They just tell you that they will make life hell for you if you don't voluntarily pay a tax that doesn't apply to you.

You don't have to protest their taxes. You just have to make an argument that it doesn't apply to you. Just like the corporations do. Be a good little corporation yourself and do your homework. Here's some help:

http://freedom-school.com/nord-davis/pardon-me-5.pdf

Also, read Peter Eric Hendrickson's book Cracking the Code. Then don't do anything until you've thought it through completely.


Hatha