http://www.dailykos.com/story/2015/5/8/1356547/-Good-Times-The-Day-Bernie-Sanders-Exposed-18-Top-Corporate-Tax-Dodgers
7 replies (most recent on top)
Credo for you not them
Verizon dodges taxes no question. Reverse Morris Trust..? Can't claim that on your personal income tax return. Legal? yes it is. still dodging. Accepting subsidies and then challenging the assessed amount of our network. Legal...I guess. Can't do that on your personal income tax return.
I'd like to see them abide by the credo for 30 consecutive seconds...never happen.
"5. Verizon CEO Lowell McAdam
Amount of federal income taxes paid in 2010? Zero. $705 million tax refund."
For starters, Lowell was not CEO until 2012. As for tax refunds, that has more to do with business expenses and the timing of when they hit the books. Unless we know what was going on to get to that refund, it's just politics.
According to the Verizon annual report, the company paid a lot of taxes, but they paid more than they should have, hence the refund. It's not zero taxes paid.
"The effective income tax rate in 2010 increased to 19.4% from 14.2% in 2009. The increase was primarily driven by a one-time, non-cash income tax charge of $1.0 billion......" The company set aside $2,467M for income taxes in 2010, up from $1,919M in 2009.
Just like our own personal income taxes, Verizon pays taxes periodically, and at the end of the year, they often get a refund if they overpaid.
This is new news to me
VERY MAD INDEED!!!
Very relevant information. I hope he gets ram-rodded come next November. Sanders or Trump will have to turn the business world upside down to get this country back on track. LowLife Little Man lowell is a great place to start.
Old news... doesn't make it right... but old news....