This is a great report on how corporations avoid paying their fair share of taxes!
If we can also overturn Citizen’s United and gerrymandering, then I believe part of the issues raised here could be dealt with. If corporations are no longer treated as “people,” they would no longer be able outspend real live people in electing and talking to our representatives. We’ll still have to deal with their paid lobbyists, but at least we can reduce their influence to some extent on who is elected in our own back yards.
While you faithfully paid your taxes by yesterday, 26 major American corporations that made $205 billion in pretax profits paid nothing in federal corporate income tax between 2008 and 2011. In 2011 corporations paid a 12.1 percent effective tax rate, the lowest in four decades. Corporations want to have the same rights as “persons,” but real persons can’t have the tax advantages of corporations.
Corporations get tax breaks when they…
Break the law: BP’s toxic mess in the Gulf of Mexico or Wells Fargo’s abusive lending practices that cost tens of thousands American families their homes were fully deductible.
Fall on hard times: When corporations lose money, they can use these losses not only to fully offset taxes for that year but also carry those losses into the future for up to seven years.
Face no income threshold: After Superstorm Sandy devastated millions of American families, they picked up the…
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