TAXES: THEM AND YOU

A After seeing these numbers, is there anyone out there that is still willing to claim that our tax system is “fair”?…

1) General Electric
U.S. Profits: $10,460,000,000
Taxes Paid: ‐$4,737,000,000

2) PG&E Corp.
U.S. Profits: $4,855,000,000
Taxes Paid: ‐$1,027,000,000

3) Verizon Communications
U.S. Profits: $32,518,000,000
Taxes Paid: ‐$951,000,000

4) Wells Fargo
U.S. Profits: $49,370,000,000
Taxes Paid: ‐$681,000,000

5) American Electric Power
U.S. Profits: $5,899,000,000
Taxes Paid: ‐$545,000,000

6) Pepco Holdings
U.S. Profits: $882,000,000
Taxes Paid: ‐$508,000,000

7) Computer Sciences
U.S. Profits: $1,666,000,000
Taxes Paid: ‐$305,000,000

8) CenterPoint Energy
U.S. Profits: $1,931,000,000
Taxes Paid: ‐$284,000,000

9) NiSource
U.S. Profits: $1,385,000,000
Taxes Paid: ‐$227,000,000

10) Duke Energy
U.S. Profits: $5,475,000,000
Taxes Paid: ‐$216,000,000

11) Boeing
U.S. Profits: $9,735,000,000
Taxes Paid: ‐$178,000,000

12) NextEra Energy
U.S. Profits: $6,403,000,000
Taxes Paid: ‐$139,000,000

13) Consolidated Edison
U.S. Profits: $4,263,000,000
Taxes Paid: ‐$127,000,000

14) Paccar
U.S. Profits: $365,000,000
Taxes Paid: ‐$112,000,000

15) Integrys Energy Group
U.S. Profits: $818,000,000
Taxes Paid: ‐$92,000,000

16) Wisconsin Energy
U.S. Profits: $1,725,000,000
Taxes Paid: ‐$85,000,000

17) DuPont
U.S. Profits: $2,124,000,000
Taxes Paid: ‐$72,000,000

18) Baxter International
U.S. Profits: $926,000,000
Taxes Paid: ‐$66,000,000

19) Tenet Healthcare
U.S. Profits: $415,000,000
Taxes Paid: ‐$48,000,000

20) Ryder System
U.S. Profits: $627,000,000
Taxes Paid: ‐$46,000,000

21) El Paso
U.S. Profits: $4,105,000,000
Taxes Paid: ‐$41,000,000

22) Honeywell International
U.S. Profits: $4,903,000,000
Taxes Paid: ‐$34,000,000

23) CMS Energy
U.S. Profits: $1,292,000,000
Taxes Paid: ‐$29,000,000

24) Con-­way
U.S. Profits: $286,000,000
Taxes Paid: ‐$26,000,000

25) Navistar International
U.S. Profits: $896,000,000
Taxes Paid: ‐$18,000,000

26) DTE Energy
U.S. Profits: $2,551,000,000
Taxes Paid: ‐$17,000,000

27) Interpublic Group
U.S. Profits: $571,000,000
Taxes Paid: ‐$15,000,000

28) Mattel
U.S. Profits: $1,020,000,000
Taxes Paid: ‐$9,000,000

29) Corning
U.S. Profits: $1,977,000,000
Taxes Paid: ‐$4,000,000

30) FedEx
U.S. Profits: $4,247,000,000
Taxes Paid: $37,000,000 (a rate of less than 1%)

31) Total
U.S. Profits: $163,691,000,000
Taxes Paid: ‐$10,602,000,000

These 30 companies had combined profits of more than 163 billion dollars during those three years, and yet the combined net tax liability of those companies was negative 10.6 billion dollars. I wish I could make my taxes look like that.

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