Thirty companies paid no income tax 2008-2010

Thirty companies paid no income tax 2008-2010


Thirty large and profitable U.S. corporations paid no income taxes in 2008 through 2010, said a study on Thursday that arrives as Congress faces rising demands for tax reform, but seems unable or unwilling to act.

Pepco Holdings, a Washington, D.C.-area power company, had the lowest effective tax rate, at negative 57.6 percent, among the 280 Fortune 500 companies studied.

The statutory U.S. corporate income tax rate is 35 percent, one of the highest in the world, but over the 2008-2010 period, very few of the companies studied paid it, said the report.

The average effective tax rate for the companies over the period was 18.5 percent, said Citizens for Tax Justice and the Institute on Taxation and Economic Policy, both think tanks.

Their report also listed General Electric Co, Paccar Inc, PG&E Corp, Computer Sciences Corp and NiSource Inc as among the 30 that paid no taxes. All 280 corporations examined were profitable over the period.




http://news.yahoo.com/thirty-companies-paid-no-income-tax-2008-2010-042531293.html





lefty

So lefty how do you feel about this? why did you post this? explain yourself, please add to the cut and paste job!

this was posted in response to the calls that we need a lower corporate tax rate (republican echo chamber), when GE, the largest corporation in the US, paid no tax at all . .

lefty

So Lefty why is that? have you done the research as to why GE has paid ZERO taxes? What makes these big companies so special to not have to pay taxes?

Lefty you are going into an area that many on this forum are very knowledgeable about, I suggest you do some more researching on this topic and see who is really to blame, it's not who you think. Also PLEASE understand that most issues are NOT repubs vs dems, but those who want true change vs the establishment in DC, most see the R and D as all in the same, but since those letters are after their name they have to find some excuse to fight when in reality they all want the same BS that has been going on for much more than 30 years. My point, stop the insults, stop the one liners, stop the cut and pastes- unless you explain why you agree or disagree with the topic, we try to have some form of a discussion here, not always successful, but lets debate the issues, thank you, rant over carry on!

ill just go elsewhere . . .

lefty

Sigh, well you have every right to do so, we just want more substance from you instead of parroting liberal one liners, and tell us why you feel the way you do, it helps the conversation/debate to be an actual conversation instead of a pissing match back and forth.

Back on topic

I agree that these companies that are "tax" free is not right, and especially the reasons why they are tax free. Let's take GE as the example, they are tax free and became tax free after giving maximum donations to Obama and his campaign, they are also the ones who will benefit the greatest to "green" energy innovations and carbon emission reductions. I am all for a clean environment, but they are poised to make many billions of dollars by taking advantage of carbon taxes and forced carbon reductions, through executive orders and congress. There is much more, but this will suffice to crack this subject open

It's all WELFARE. Only difference is many are more than happy to provide it for those who need it least.

Or to coin a GOP Phrase Wealth re-distribution

I'll also reiterate a fact pertaining to corporate taxes. Corporations NEVER pay taxes. They simply up their prices so that the consumer pays them. Their bottom lines are not affected.
Every corporate tax increase ends up being paid by US, the taxpayers. That's apparently impossible for some to grasp and I suspect it's due to our substandard public education systems.