Bernie Sanders’ Top-Ten List of corporate tax cheats (all of it quite “legal”)

Sanders compiled a list of the 10 worst corporate income tax avoiders.

1) Exxon Mobil made $19 billion in profits in 2009. Exxon not only paid no federal income taxes, it actually received a $156 million rebate from the IRS, according to its SEC filings.

2) Bank of America received a $1.9 billion tax refund from the IRS last year, although it made $4.4 billion in profits and received a bailout from the Federal Reserve and the Treasury Department of nearly $1 trillion.

3) Over the past five years, while General Electric made $26 billion in profits in the United States, it received a $4.1 billion refund from the IRS.

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One thought on “Bernie Sanders’ Top-Ten List of corporate tax cheats (all of it quite “legal”)”

  1. Subject: Senator Bernie Sanders and Corporate Tax Avoiders??? Major American corporations PAY NO TAXES and some even receive rebates???

    I am a lay historian living Asia and I enclose is an email I recently sent to some friends of mine inside and outside of the military. I hope it will help you understand what is really going on in the United States of America. As a life-long Republican (a moderate Republican) I have some food for thought about our current national debt crisis and the mental paralysis afflicting congress; there certainly are a liberal loonies in the Democratic party but there are even more right-wing crazies in the Republican party. I am ashamed to say it but over time the right-wing crazies have damaged America far more than most people realize. This is because the right wing crazies are often funded by (and controlled by) the wealthiest people in America. While their opponents struggle to raise a few hundred thousand dollars to run for congress, these right ring toadies receive millions of dollars in campaign contributions from the ultra-rich portion of our society, and specifically from many of the 400 billionaires living inside the United States. (Forbes Magazine lists each of these billionaires and shows how many billions each of them control.)
    These same greedy ultra-rich people meet in secrecy behind closed doors and decide what THEY want the United States government including its MILITARY and State Department and international Justice Department functions to do for their multi-national companies, while their well-financed congressmen enact new tax reduction laws that have already reduced the high-end tax rates to historic lows. Case in point: during Clinton’s era, (a president who became notorious for his sexual escapades but was a financial wizard when it came to creating American jobs and balancing the budget) the ultra rich paid a 39% tax rate and we had a balanced budget. In fact, we were within 7 years of paying off the ENTIRE national debt.
    Then President Bush and Cheney took over the White House; they worked hand-in-hand with the newly elected Republican congressmen to slash the taxes the ultra rich pay to approximately 20%. Most Americans are unaware of it but for the ultra rich, tax rates remain at their lowest rates in EIGHTY YEARS!!!! (Inserted note: Now Senator Bernie Sanders tells us major American corporations PAY NO TAXES and some of them actually receive rebates!!!!!)
    The Bush and Cheney White House worked with right wing Republican congressmen to create massive tax loopholes and subsidies which use Federal Dollars to subsidize these same multi-national corporations as well as the rich people who own them. These loopholes and subsidies help multi-national companies owned by American investors to busily transfer millions of manufacturing jobs OUT of the United States, while the same products that were formerly made by Americans — continue to be sold in the United States, but are now manufactured (for the most part) in Communist China. Fact in point, while Communist China has an astonishing ONE HUNDRED MILLION manufacturing jobs,* America is down to a paltry ELEVEN MILLION manufacturing jobs because during President Bush’s era, the United States lost almost five million of those precious manufacturing jobs to Communist China.
    As a life-long but moderate Republican, I believe Bush was either incompetent (or crooked?) because he started a war in Iraq under the guise of stopping the use of Weapons of Mass Destruction; while the real goal was allowing American oil companies to control the lion’s share of Iraqi oil. American companies acquired temporary control of much of that oil, but we finally know the entire scenario about WMD was big lie. The other blunder President Bush did was create a world financial crisis. Right to the end of his presidency this economically ignorant politician continued advocating “deregulating Wall Street,” even though his policies had already ruined our banking system and threatened to plunge the entire world into a depression, much like the 1929 Depression.
    As a lay historian living in Asia, I believe war with Communist China will become a very real possibility in the next decade and if it does occur, where the hell do the lunatics running Washington think the United States military is going to obtain the parts and weapons we need to fight the Chinese? Since we have no manufacturing base left, to these toadies of the ultra rich plan to buy war supplies from the Communist Chinese?
    The next congressional election is not too far away; I urge the American people to look deeper than the “idiotic hot buttons” the liberal left and the right ring crazies like to throw about. Instead of voting for or against gun control or lower taxes (primarily for the ultra rich) or social issues such as national medical insurance or immigration from Mexico or gay rights, ask yourself one question: Will this congressman or congresswoman do things that make American corporations as well as the ultra rich (who own those corporations) pay their fair share of taxes, while restoring American manufacturing jobs that make America stronger and eventually debt free; or will this candidate (with an enormous war chest of funds given him by the ultra rich) help continue the systematic looting of the United States of America?
    As a lay historian I can also tell you this: fifty years from now, gay marriage or national medical insurance or illegal immigration will NOT be important issues in the lives of your children and grand children –WHEN COMPARED to the inevitable financial collapse of the United States. Such a collapse will have horrifying consequences on the lives of our children and grandchildren: the United States could become a third world country and our children and grand children may have to emigrate somewhere else – much like the flood of illegal Latino immigrants entering the United States! I ask the readers of this letter to think about that dire possibility when you vote for congressmen in the next election.
    Dane Dahl

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