March 6, 2012
thepeoplesrecord:

occupyonline:

List of some of the 10 worst corporate income tax avoiders.
1)      Exxon Mobil made $19 billion in profits in 2009.  Exxon not only paid no federal income taxes, it actually received a $156 million rebate from the IRS, according to its SEC filings.  (Source: Exxon Mobil’s 2009 shareholder report filed with the SEC here.)
2)      Bank of America received a $1.9 billion tax refund from the IRS last year, although it made $4.4 billion in profits and received a bailout from the Federal Reserve and the Treasury Department of nearly $1 trillion. (Source: Forbes.com here, ProPublica here and Treasuryhere.)
3)      Over the past five years, while General Electric made $26 billion in profits in the United States, it received a $4.1 billion refund from the IRS. (Source: Citizens for Tax Justice hereand The New York Times here.  Note: despite rumors to the contrary, the Times has stood by its story.)
4)      Chevron received a $19 million refund from the IRS last year after it made $10 billion in profits in 2009.  (Source: See 2009 Chevron annual report here.  Note 15 on page FS-46 of this report shows a U.S. federal income tax liability of $128 million, but that it was able to defer $147 million for a U.S. federal income tax liability of $-19 million)
5)      Boeing, which received a $30 billion contract from the Pentagon to build 179 airborne tankers, got a $124 million refund from the IRS last year. .  (Source: Paul Buchheit, professor, DePaul University, here and Citizens for Tax Justice here.)
6)      Valero Energy, the 25th largest company in America with $68 billion in sales last year received a $157 million tax refund check from the IRS and, over the past three years, it received a $134 million tax break from the oil and gas manufacturing tax deduction. (Source: the company’s 2009 annual report, pg. 112, here.)
7)      Goldman Sachs in 2008 only paid 1.1 percent of its income in taxes even though it earned a profit of $2.3 billion and received an almost $800 billion from the Federal Reserve and U.S. Treasury Department.  (Source: Bloomberg News here, ProPublica here, Treasury Department here.)
8)      Citigroup last year made more than $4 billion in profits but paid no federal income taxes. It received a $2.5 trillion bailout from the Federal Reserve and U.S. Treasury. (Source: Paul Buchheit, professor, DePaul University, here, ProPublica here, Treasury Department here.)
9)      ConocoPhillips, the fifth largest oil company in the United States, made $16 billion in profits from 2006 through 2009, but received $451 million in tax breaks through the oil and gas manufacturing deduction.  (Sources: Profits can be found here.  The deduction can be found on the company’s 2010 SEC 10-K report to shareholders on 2009 finances, pg. 127,here)
10)  Over the past five years, Carnival Cruise Lines made more than $11 billion in profits, but its federal income tax rate during those years was just 1.1 percent.  (Source: The New York Times here)

Our country & our world can no longer afford to be run by these corporations! 

thepeoplesrecord:

occupyonline:

List of some of the 10 worst corporate income tax avoiders.

1)      Exxon Mobil made $19 billion in profits in 2009.  Exxon not only paid no federal income taxes, it actually received a $156 million rebate from the IRS, according to its SEC filings.  (Source: Exxon Mobil’s 2009 shareholder report filed with the SEC here.)

2)      Bank of America received a $1.9 billion tax refund from the IRS last year, although it made $4.4 billion in profits and received a bailout from the Federal Reserve and the Treasury Department of nearly $1 trillion. (Source: Forbes.com here, ProPublica here and Treasuryhere.)

3)      Over the past five years, while General Electric made $26 billion in profits in the United States, it received a $4.1 billion refund from the IRS. (Source: Citizens for Tax Justice hereand The New York Times here.  Note: despite rumors to the contrary, the Times has stood by its story.)

4)      Chevron received a $19 million refund from the IRS last year after it made $10 billion in profits in 2009.  (Source: See 2009 Chevron annual report here.  Note 15 on page FS-46 of this report shows a U.S. federal income tax liability of $128 million, but that it was able to defer $147 million for a U.S. federal income tax liability of $-19 million)

5)      Boeing, which received a $30 billion contract from the Pentagon to build 179 airborne tankers, got a $124 million refund from the IRS last year. .  (Source: Paul Buchheit, professor, DePaul University, here and Citizens for Tax Justice here.)

6)      Valero Energy, the 25th largest company in America with $68 billion in sales last year received a $157 million tax refund check from the IRS and, over the past three years, it received a $134 million tax break from the oil and gas manufacturing tax deduction. (Source: the company’s 2009 annual report, pg. 112, here.)

7)      Goldman Sachs in 2008 only paid 1.1 percent of its income in taxes even though it earned a profit of $2.3 billion and received an almost $800 billion from the Federal Reserve and U.S. Treasury Department.  (Source: Bloomberg News here, ProPublica here, Treasury Department here.)

8)      Citigroup last year made more than $4 billion in profits but paid no federal income taxes. It received a $2.5 trillion bailout from the Federal Reserve and U.S. Treasury. (Source: Paul Buchheit, professor, DePaul University, here, ProPublica here, Treasury Department here.)

9)      ConocoPhillips, the fifth largest oil company in the United States, made $16 billion in profits from 2006 through 2009, but received $451 million in tax breaks through the oil and gas manufacturing deduction.  (Sources: Profits can be found here.  The deduction can be found on the company’s 2010 SEC 10-K report to shareholders on 2009 finances, pg. 127,here)

10)  Over the past five years, Carnival Cruise Lines made more than $11 billion in profits, but its federal income tax rate during those years was just 1.1 percent.  (Source: The New York Times here)

Our country & our world can no longer afford to be run by these corporations! 

(via anarcho-queer)

  1. knowyouareworthwhile reblogged this from acidicangels
  2. acidicangels reblogged this from ladyplebian
  3. knightworg reblogged this from antinwo
  4. americanwanderlust reblogged this from anarcho-queer
  5. mstashers reblogged this from smdy
  6. smdy reblogged this from truth-has-a-liberal-bias
  7. your-ridiculous-lies reblogged this from phanapoeia
  8. phanapoeia reblogged this from allthatisthecase
  9. allthatisthecase reblogged this from angrybrownbaby
  10. angrybrownbaby reblogged this from darkjez
  11. urmonotheismus reblogged this from illuminatos-unum
  12. jsweptson reblogged this from peaceful-wanderer
  13. peaceful-wanderer reblogged this from anarcho-queer
  14. nicksheff reblogged this from pandahspunk
  15. megatronsminion reblogged this from dianamailove
  16. jeffrodisiac reblogged this from anarcho-queer
  17. dianamailove reblogged this from anarcho-queer
  18. spartanninja reblogged this from anarcho-queer
  19. staringinawe reblogged this from truth-has-a-liberal-bias
  20. wordshappen reblogged this from anarcho-queer
  21. kaiamar reblogged this from anarcho-queer
  22. alanaisreading reblogged this from anarcho-queer
  23. dalinar-kholin reblogged this from luminousaether
  24. blissful-moontrip reblogged this from luminousaether
  25. luminousaether reblogged this from paradoxicalparadigms
  26. meghanbits reblogged this from anarcho-queer
  27. dark4 reblogged this from anarcho-queer and added:
    BOYCOTT EXXON! DO NOT BUY SHIT FROM THEM
  28. o3k64 reblogged this from anarcho-queer
  29. reblogthefuckoutofit reblogged this from anarcho-queer
  30. nomnom5 reblogged this from takethatthomas
  31. takethatthomas reblogged this from anarcho-queer
  32. maleficent reblogged this from anarcho-queer