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from the wish-we-were-in-the-one-percent dept.
Due to completely messed up U.S. tax policies, some even got a rebate check. Only small businesses pay taxes. Big companies often pay nothing at all.
Look at a new report from Citizens for Tax Justice ( http://ctj.org/ctjreports/2015/04/fifteen_of_many_reasons_why_we_need_corporate_tax_reform.php#.VSbihhPF8QY ), a Washington, D.C. group. It finds that some of nation's most famous brands have paid remarkably little to the government over the last five years. In fact, many actually enjoyed a negative tax rate: They received a nice rebate check from the U.S. Treasury.
The 15 giants highlighted by CTJ were chosen to represent a wide range of industries among Fortune 500 companies. They include CBS, Mattel, Prudential, and the California utility PG&E. Together, they paid no federal income tax in 2014, despite profits totaling $23 billion. CTJ's point is that these companies are not anomalies, they are examples.
(Score: 4, Insightful) by hash14 on Wednesday April 15 2015, @01:31AM
Never mind that these companies would skip town in a heartbeat and take all their jobs with them if the situation were economically favourable for them (and they do, given how much labour is outsourced to poor countries like Bangladesh and China where the costs are much cheaper). Never mind that in spite of the jobs they bring, even a 60+ hour week at minimum wage still isn't enough to get by because of all the other costs of living (rent, healthcare, education, miscellaneous debt).
Here's a quick heads-up the next time someone suggests against social policies that would drive these jobs away - they're probably not providing jobs that you want in the first place.
Keep acting like you're proud of your country America - the best democracy money can buy.