Crazy Corporate Tax Tales: They Don't Pay Anything
As part of the Tax Day Make Them Pay mobilization the AFL-CIO community affiliate Working America is urging people to tell Congress to close the corporate tax loopholes that allow companies like ExxonMobil to rake in $19 billion in profits in 2009 and yet pay no federal income taxes–and instead, get a $156 million rebate from the Internal Revenue Service (IRS). You can tell these corporate tax scofflaws to pay up–click here.
Exxon Mobil is one of the top five tax avoiders. The others are:
- 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.
- 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.
- Chevron received a $19 million refund from the IRS last year after it made $10 billion in profits in 2009.
- Boeing, which received a $30 billion contract from the Pentagon to build 179 airborne tankers, got a $124 million refund from the IRS last year.
Click here to send a message to these five companies to pay up and to your lawmakers to close the corporate tax loopholes that are big enough to drive a $1.9 billion refund through.
Don’t forget that on April 18 thousands of union members, MoveOn members and other allies will gather around the country outside the offices of corporations not paying their fair share. We’ll deliver tax bills to the biggest corporate tax-dodgers and demand that our elected leaders make them pay. Click here to find a Tax Day: Make Them Pay event near you.
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Chuck
This is so upsetting that I have no idea where to even begin.