Exxon Mobil made $19 Billion in PROFITS in 2009. They received $156 million in rebates after paying nothing in taxes.
Bank of America made $4.4 Billion in PROFITS in 2009. They received nearly $1 trillion in bailout cash from the Federal Reserve and the Treasury Department. They also received $1.9 Billion in refunds after paying no taxes.
General Electric has made $26 Billion in PROFITS over the past five years in the United States alone. They got $4.1 Billion in refunds after paying no taxes.
Chevron made $10 Billion in PROFITS in 2009. Paid no taxes. Got $19 million in tax refunds.
Boeing got $124 million in tax refunds. They paid nothing. Oh yeah, they also got a $30 Billion contract from the Pentagon to build 179 airborne tankers.
Valero Energy -- 25th largest company in America -- did $68 Billion in sales. Paid no taxes. Got $157 million back from the government. They also get $134 million in tax breaks and deductions over the past 3 years.
Goldman Sachs paid 1.1% of it's income in taxes in 2009, even though they earned $2.3 Billion in PROFITS and got almost $800 Billion from the Federal Reserve and the U.S. Treasury Department.
Citigroup made more than $4 Billion in PROFITS. Paid no taxes. Got $2.5 TRILLION in bailout funds from the Federal Reserve and the U.S. Treasury Department.
ConocoPhillips -- 5th largest oil company in the U.S. -- made $16 Billion in profits from 2007 to 2009, but received $451 in tax breaks though the oil and gas manufacturing deduction.
Carnival Cruise Lines made $11 Billion in PROFITS over the past five years. They only paid 1.1% in taxes over those five years.
In 2009, my wife and I filed our taxes jointly and paid $300 to the federal government. At that time, we made less than $30,000 a year. None of it was profit, as all of it needed to be spent on things needed to keep us alive, like food and shelter. Our tax rate, then, was over 10%. Carnival Cruise Lines made $11 Billion in profits and paid 1.1% in taxes. Goldman Sachs made $2.3 Billion in profits, got a government bailout, and paid 1.1% in taxes. My wife and I made no profits and paid more than 10% in taxes. We also make too much money to qualify for food stamps.
If you paid any taxes in 2009 -- even $1 -- you paid more in taxes than Exxon Mobil, Bank of America, General Electric, Chevron, Boeing, Valero Energy, Citigroup and ConocoPhillips combined.
With these companies doing so well, I wonder why our economy is doing so poorly? I mean, we keep being told that if these companies don't rake in these kinds of profits, then our country will see job losses and economic hardships... kinda like what we're seeing now...? I wonder why we don't have any new jobs from these so-called "Job Creators"? Could it be that the line about large corporations being "Job Creators" and keeping our country's economy afloat is a load of horseshit concocted by the people who are benefiting most from this legal kind of corporate theft? I think so.
Source for the above: http://blogs.suntimes.com/sweet/2011/03/ten_giant_us_companies_avoidin.html
(well... except for that last paragraph. That's all me, baby.)
Here's something else to ponder. According to The New York Times (http://www.nytimes.com/2011/05/03/business/economy/03rates.html), America has one of the highest corporate income tax rates in the world at 35%. However, because of breaks and loopholes, around 55% of U.S. companies pay no federal income tax.
Here's a comprehensive list of the 238 Representatives and 41 Senators who have signed a pledge to "oppose any and all efforts to increase the marginal income tax rate for individuals AND BUSINESSES," and "oppose any net reduction or elimination of deductions and credits, unless matched dollar for dollar by further reducing tax rates."
http://s3.amazonaws.com/atrfiles/files/files/091411-federalpledgesigners(1).pdf
ALABAMA
AL-Sen Jeff Sessions (R)
AL-Sen Richard Shelby (R)
AL-01 Jo Bonner (R)
AL-02 Martha Roby (R)
AL-03 Mike Rogers (R)
AL-04 Robert Aderholt (R)
AL-05 Mo Brooks (R)
AL-06 Spencer Bachus (R)
ALASKA
AK-Sen Lisa Murkowski (R)
AK-AL Don Young (R)
ARIZONA
AZ-Sen Jon Kyl (R)
AZ-Sen John McCain (R)
AZ-01 Paul Gosar (R)
AZ-02 Trent Franks (R)
AZ-03 Ben Quayle (R)
AZ-05 David Schweikert (R)
AZ-06 Jeff Flake (R)
ARKANSAS
AR-Sen John Boozman (R)
AR-01 Rick Crawford (R)
AR-02 Tim Griffin (R)
AR-03 Steve Womack (R)
CALIFORNIA
CA-02 Wally Herger (R)
CA-03 Dan Lungren (R)
CA-04 Tom McClintock (R)
CA-19 Jeff Denham (R)
CA-21 Devin Nunes (R)
CA-22 Kevin McCarthy (R)
CA-24 Elton Gallegly (R)
CA-25 Buck McKeon (R)
CA-26 David Dreier (R)
CA-40 Ed Royce (R)
CA-41 Jerry Lewis (R)
CA-42 Gary Miller (R)
CA-44 Ken Calvert (R)
CA-45 Mary Bono Mack (R)
CA-46 Dana Rohrabacher (R)
CA-48 John Campbell (R)
CA-49 Darrell Issa (R)
CA-50 Brian Bilbray (R)
CA-52 Duncan D. Hunter (R)
COLORADO
CO-03 Scott Tipton (R)
CO-04 Corey Gardner (R)
CO-05 Doug Lamborn (R)
CO-06 Mike Coffman (R)
FLORIDA
FL-Sen Marco Rubio (R)
FL-01 Jeff Miller (R)
FL-02 Steve Southerland (R)
FL-04 Ander Crenshaw (R)
FL-05 Richard Nugent (R)
FL-06 Cliff Stearns (R)
FL-07 John Mica (R)
FL-08 Daniel Webster (R)
FL-09 Gus Bilirakis (R)
FL-10 Bill Young (R)
FL-12 Dennis Ross (R)
FL-13 Vern Buchanan (R)
FL-14 Connie Mack (R)
FL-15 Bill Posey (R)
FL-16 Tom Rooney (R)
FL-18 Ileana Ros-Lehtinen (R)
FL-21 Lincoln Diaz-Balart (R)
FL-22 Allen West (R)
FL-24 Sandy Adams (R)
FL-25 David Rivera (R)
GEORGIA
GA-Sen Johnny Isakson (R)
GA-Sen Saxby Chambliss (R)
GA-01 Jack Kingston (R)
GA-03 Lynn Westmoreland (R)
GA-06 Tom Price (R)
GA-08 Austin Scott (R)
GA-09 Tom Graves (R)
GA-10 Paul Broun (R)
GA-11 Phil Gingrey (R)
IDAHO
ID-Sen Mike Crapo (R)
ID-Sen James Risch (R)
ID-01 Raul Labrador (R)
ID-02 Michael Simpson (R)
ILLINOIS
IL-Sen Mark Kirk (R)
IL-06 Peter Roskam (R)
IL-08 Joe Walsh (R)
IL-10 Robert Dold (R)
IL-11 Adam Kinzinger (R)
IL-13 Judy Biggert (R)
IL-14 Randy Hultgren (R)
IL-15 Tim Johnson (R)
IL-16 Don Manzullo (R)
IL-17 Bobby Schilling (R)
IL-18 Aaron Schock (R)
IL-19 John Shimkus (R)
INDIANA
IN-Sen Dan Coats (R)
IN-03 Marlin Stutzman (R)
IN-04 Todd Rokita (R)
IN-05 Dan Burton (R)
IN-06 Mike Pence (R)
IN-08 Larry Buschon (R)
IN-09 Todd Young (R)
IOWA
IA-04 Tom Latham (R)
IA-05 Steve King (R)
KANSAS
KS-Sen Jerry Moran (R)
KS-Sen Pat Roberts (R)
KS-01 Tim Huelskamp (R)
KS-02 Lynn Jenkins (R)
KS-04 Michael Pompeo (R)
KENTUCKY
KY-Sen Mitch McConnell (R)
KY-Sen Rand Paul (R)
KY-01 Ed Whitfield (R)
KY-02 Brett Guthrie (R)
KY-04 Geoff Davis (R)
KY-05 Hal Rogers (R)
KY-06 Ben Chandler (D)
LOUISIANA
LA-Sen David Vitter (R)
LA-01 Steve Scalise (R)
LA-03 Jeffery Landry (R)
LA-04 John Fleming (R)
LA-05 Rodney Alexander (R)
LA-06 Bill Cassidy (R)
LA-07 Charles Boustany (R)
MARYLAND
MD-01 Andy Harris (R)
MD-06 Roscoe Bartlett (R)
MASSACHUSETTS
MA-Sen Scott Brown (R)
MICHIGAN
MI-01 Dan Benishek (R)
MI-02 Bill Huizenga (R)
MI-03 Justin Amash (R)
MI-04 Dave Camp (R)
MI-06 Fred Upton (R)
MI-07 Tim Walberg (R)
MI-08 Mike Rogers (R)
MI-10 Candice Miller (R)
MI-11 Thad McCotter (R)
MINNESOTA
MN-02 John Kline (R)
MN-03 Erik Paulsen (R)
MN-06 Michele Bachmann (R)
MN-08 Chip Cravaack (R)
MISSISSIPPI
MS-Sen Roger Wicker (R)
MS-01 Alan Nunnelee (R)
MS-03 Gregg Harper (R)
MS-04 Steven Palazzo (R)
MISSOURI
MO-Sen Roy Blunt (R)
MO-02 Todd Akin (R)
MO-04 Vicky Hartzler (R)
MO-06 Sam Graves (R)
MO-07 Billy Long (R)
MO-08 Jo Ann Emerson (R)
MO-09 Blaine Luetkemeyer (R)
MONTANA
MT-AL Dennis Rehberg (R)
NEBRASKA
NE-Sen Mike Johanns (R)
NE-Sen Ben Nelson (D)
NE-01 Jeff Fortenberry (R)
NE-02 Lee Terry (R)
NE-03 Adrian Smith (R)
NEVADA
NV-Sen Dean Heller (R)
NV-02 Mark Amodei (R)
NV-03 Joe Heck (R)
NEW HAMPSHIRE
NH-Sen Kelly Ayotte (R)
NH-01 Frank Guinta (R)
NH-02 Charlie Bass (R)
NEW JERSEY
NJ-01 Robert Andrews (D)
NJ-02 Frank LoBiondo (R)
NJ-03 Jon Runyan (R)
NJ-04 Chris Smith (R)
NJ-05 Scott Garrett (R)
NJ-07 Leonard Lance (R)
NJ-11 Rodney Frelinghuysen (R)
NEW MEXICO
NM-02 Steve Pearce (R)
NEW YORK
NY-03 Peter King (R)
NY-09 Bob Turner (R)
NY-13 Michael Grimm (R)
NY-19 Nan Hayworth (R)
NY-20 Chris Gibson (R)
NY-25 Ann Marie Buerkle (R)
NY-29 Tom Reed (R)
NORTH CAROLINA
NC-Sen Richard Burr (R)
NC-02 Renee Ellmers (R)
NC-03 Walter Jones Jr. (R)
NC-05 Virginia Foxx (R)
NC-06 Howard Coble (R)
NC-09 Sue Myrick (R)
NC-10 Patrick McHenry (R)
NORTH DAKOTA
ND-AL Rick Berg (R)
OHIO
OH-Sen Rob Portman (R)
OH-01 Steve Chabot (R)
OH-02 Jean Schmidt (R)
OH-03 Mike Turner (R)
OH-04 Jim Jordan (R)
OH-05 Bob Latta (R)
OH-06 Bill Johnson (R)
OH-07 Steve Austria (R)
OH-08 John Boehner (R)
OH-12 Pat Tiberi (R)
OH-14 Steve LaTourette (R)
OH-15 Steve Stivers (R)
OH-16 James Renacci (R)
OH-18 Bob Gibbs (R)
OKLAHOMA
OK-Sen Tom Coburn (R)
OK-Sen Jim Inhofe (R)
OK-01 John Sullivan (R)
OK-03 Frank Lucas (R)
OK-04 Tom Cole (R)
OK-05 James Lankford (R)
OREGON
OR-02 Greg Walden (R)
PENNSYLVANIA
PA-Sen Pat Toomey (R)
PA-03 Mike Kelly (R)
PA-05 Glenn Thompson (R)
PA-06 Jim Gerlach (R)
PA-07 Pat Meehan (R)
PA-08 Michael Fitzpatrick (R)
PA-09 Bill Shuster (R)
PA-10 Thomas Marino (R)
PA-11 Lou Barletta (R)
PA-15 Charlie Dent (R)
PA-16 Joseph Pitts (R)
PA-18 Tim Murphy (R)
SOUTH CAROLINA
SC-Sen Jim DeMint (R)
SC-Sen Lindsey Graham (R)
SC-01 Tim Scott (R)
SC-02 Joe Wilson (R)
SC-03 Jeff Duncan (R)
SC-04 Trey Gowdy (R)
SC-05 Mick Mulvaney (R)
SOUTH DAKOTA
SD-Sen John Thune (R)
SD-AL Kristi Noem (R)
TENNESSEE
TN-Sen Bob Corker (R)
TN-Sen Lamar Alexander (R)
TN-01 Phil Roe (R)
TN-02 John Duncan (R)
TN-03 Chuck Fleischman (R)
TN-04 Scott DesJarlais (R)
TN-06 Diane Black (R)
TN-07 Marsha Blackburn (R)
TN-08 Stephen Fincher (R)
TEXAS
TX-Sen John Cornyn (R)
TX-Sen Kay Bailey Hutchison (R)
TX-01 Louie Gohmert (R)
TX-02 Ted Poe (R)
TX-03 Sam Johnson (R)
TX-04 Ralph Hall (R)
TX-05 Jeb Hensarling (R)
TX-06 Joe Barton (R)
TX-07 John Culberson (R)
TX-08 Kevin Brady (R)
TX-10 Michael McCaul (R)
TX-11 Mike Conaway (R)
TX-12 Kay Granger (R)
TX-13 Mac Thornberry (R)
TX-14 Ron Paul (R)
TX-17 Bill Flores (R)
TX-19 Randy Neugebauer (R)
TX-21 Lamar Smith (R)
TX-22 Pete Olson (R)
TX-23 Francisco Canseco (R)
TX-24 Kenny Marchant (R)
TX-26 Michael Burgess (R)
TX-27 Blake Farenthold (R)
TX-31 John Carter (R)
TX-32 Pete Sessions (R)
UTAH
UT-Sen Michael Lee (R)
UT-Sen Orrin Hatch (R)
UT-01 Rob Bishop (R)
UT-03 Jason Chaffetz (R)
VIRGINIA
VA-02 Scott Rigell (R)
VA-04 Randy Forbes (R)
VA-05 Robert Hurt (R)
VA-06 Bob Goodlatte (R)
VA-07 Eric Cantor (R)
VA-09 H. Morgan Griffith (R)
WASHINGTON
WA-03 Jaime Herrera (R)
WA-04 Doc Hastings (R)
WA-05 Cathy McMorris (R)
WA-08 Dave Reichert (R)
WEST VIRGINIA
WV-01 David McKinley (R)
WV-02 Shelley Moore Capito (R)
WISCONSIN
WI-Sen Ron Johnson (R)
WI-01 Paul Ryan (R)
WI-05 Jim Sensenbrenner (R)
WI-06 Tom Petri (R)
WI-07 Sean Duffy (R)
WI-08 Reid Ribble (R)
WYOMING
WY-Sen Mike Enzi (R)
WY-AL Cynthia Lummis (R)
I guess these guys think things are ok with the way my wife and I are paying the government 10% of our income and make too much to qualify for food stamps, and 55% of corporate businesses pay nothing.
I think it's time to write a letter or two.
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