Sunday, March 2, 2014

Shell Corporations made for Tax Havens

Where to put the dough after Betty Crocker Books

This will make ya feel good about going to work and paying taxes! 

Twenty-six of the most powerful American corporations – such as Boeing, General Electric, and Verizon – paid no federal income tax from 2008 to 2012, according to a new report detailing how Fortune 500 companies exploit tax breaks and loopholes.

The report, conducted by public advocacy group Citizens for Tax Justice (CTJ), focuses on the 288 companies in the Fortune 500 that registered consistent profit every year from 2008 to 2012. Those 288 profitable corporations paid an “effective federal income tax rate of just 19.4 percent over the five-year period — far less than the statutory 35 percent tax rate,” CTJ states.

One-third, or 93, of the analyzed companies, paid an effective tax rate below 10 percent in that time-span, CTJ found.

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Senate Chairman Carl Levin investigates the Credit Suisse Group on where is Americas' tax dollars from these type of corporations.  (this was created 2/26/14)

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The Other Side- Taxation

The insatiable big government beast wants to keep plundering to feed its crazed military industrial corporate socialist spending addiction.  If you want to get annoyed, ignore these miserly plutocrats and concentrate on how corporatist socialist government feeds big business at the expense of the little guy:  2013 subsidies to Fortune 500 companies alone totaled $63 billion!  Let’s attack that bloat and hence shrink government and taxation to deliver a bottom-up innovative economy.

Channel "RT TV" (Full Story)

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