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Report Reveals How Corporate Tax Dodgers Avoid Paying Their Fair Share—or Any Share At All


#1

Report Reveals How Corporate Tax Dodgers Avoid Paying Their Fair Share—or Any Share At All

Deirdre Fulton, staff writer

Pointing to egregious examples of Fortune 500 corporations "manipulating the tax system to avoid paying even a dime in tax on billions of dollars in U.S. profits," a new report from Citizens for Tax Justice makes a sharp case for corporate tax reform.

The 15 companies cited in the CTJ analysis represent a range of sectors within the U.S. economy, from toy maker Mattel to financial services corporation Prudential to broadcaster CBS to media giant Time Warner.


#2

"It's unclear when that will happen".

It seems clear to me: it won't happen til we take over government. And we won't take over government until there are enough of us willing to put the tv into the bin and get weaving.


#3

Saw the figure that approx. $2.1 TRILLION in corporate funds are parked offshore, where they can't be taxed.
But we're supposed to practice austerity.


#4

Quite right you are, but where's the compassion for Daddy Warbucks around here? Austerity for thee; thanx anyway, but none for me.


#5

Just like the IRS would do with me ,, back taxes with interest . OR jail


#6

"Special interest" money flowing from deep pockets (corporate and individual) to elected officials on local, state, and federal levels will make sure that corporate tax reform is so far off their (elected officials) radars that it may as well be from the Black Hole. It has taken four-plus decades to get to this point (corporations NOT paying taxes AND hiding funds offshore to avoid taxation) and the wicked web that they have woven will not be rent now or in many lifetimes.


#7

"Jetblue, PG&E, PEPCO Holdings, and Ryder used accelerated depreciation, "

Bad example. The amount a company can claim is the same whether they do it all at once or over x years. I'm an independent contractor and usually i claim the max amount of a new laptop or whatever the first year, for instant gratification. I also don't feel that bad when two years later i buy a new one. If the i would still get depreciation back on it i would probably use it longer.

If that's the main part of the corporate tax code that worries the CTJ i would spend some money on some outside contractors and get them educated.


#8

If you designed an economic system wouldn't you make work for you?I believe it is really just as simple at that..
Now I certainly do not agree with it the present system and it's injustices, for you hardly call it democratic in nature
but who if they really think about it would define capitalism as democratic?
It fact would could say that capitalism is the antithesis of democracy.


#9

The IRS has revised its focus away from corporate fraud and into auditing individuals and making sure we paid our ACA extortion money.

Considering that Obama has, during his past three state of the union speeches, emphasized that TPP,TTIP and tax reform (in Obamaspeak: further reducing corporate taxes and increasing our taxes) are his top priorities, don't expect any help from the IRS or any other part of the corporate owned US government.


#11

This article only mentions the FEDERAL taxes that corporations evade. Most state and many local governments give huge state income tax and huge property tax exemptions to these same corporations.

Every tax dollar not being paid by corporations is another tax dollar these government agencies will get from you and I.


#12

We will never take back our government until we take back the corporate news airwaves that have been brainwashing the American electorate for the last 100 years. One war lie after another: from the Maine to 9/11 and the WMD's in Iraq.

For instance: When a poor person gets $ from the government it is embarrassingly called the pejorative, "welfare" with the connotation of those persons as worthless parasites that are lazy, but when the American corportocracy gets millions of $$$$$$$$$$ from the government... it is called " subsidies ".


#13

Since I have income from what I "produce" and I have expenses (food, clothing, housing, vehicles, computer, maintenance of my residence, entertainment, etc) that support my ability to produce, it seems only fair that I should be able to depreciate all of those things too. I want fair, equal treatment!!!


#14

So how do we do that? I can't think of a way apart from taking over government first. Can you?

When I think about it, it seems to me that we really don't have to control the airwaves, we "only" have to have some high-bandwidth comm channel and a sufficiently enthralling message. The high bandwidth channel could be thousands of low-bandwidth channels operating in parallel. No?


#15

Good thought! But also, the net is an antithesis to the dinosaur corporate media and needs to be kept neutral.


#16

Austerity measures, sequestration, cutting the federal spending, balancing the budget, government deficit spending and all the other GOP schemes are code names for transferring the tax burden from the wealthy large corporations to the working class Americans.
Instead of raising taxes on profits of the wealthy the wealthy uses social engineering to completely reverse what must be done preempting any discussion of raising revenue through fair taxation and wealth distribution. That satanic GOP, by the time we the ordinary people discover their devious schemes they have already delivered their poison.


#17

"Let them eat cake....". Why are so many sheeple just taking this while many are scrapping by? We need to have a simple formula and no loop holes like the middle class has no loopholes. This is ridiculous but how do we wake up the millions of morons that are going to vote for D or R expecting a difference?


#18

Great point, if they got Corporate taxes they would have plenty for public health and infrastructure. But the sheeple will still go and vote D or R....so they can continue to do the same damn thing. Its not these goons we should concern ourselves with.....its the millions who are brainwashed. It reminds me of Invasion of the Body Snathcers....in the end that movie didn't end well. I sincerely hope the poor stand up and start attacking the rich, protest or all out attack these offices, state houses and DC. When we can motivate 20 million or more and these rich SOB'S are scarred for their lives....we will see change. Imagine if Occupy Wall St actually caused some harm to those rich sob's, they would be begging for the law to change when their lives are in danger. We cannot beat them under the "just-us" system they created....we have to dump all of it and revolt. I can see on way we can do this non-violently.....set up guillotines in all the right places and give them 30 days to fix it or we are coming in, grabbing them, and re live the French Revolution. Let them eat cake, they say. I say, MY ASS!


#19

What do we do about revenue policy? The critics want only to tax the rich. They do not mention quit creating the undue rich in the first place.

They are silent about how corporate welfare creates the rich. And appear oblivious to how society’s spending for land and resources is what creates those rich at the most basic level. It’s mortgages and purchases of gasoline, etc, that channels trillions into the coffers of rich owners. Such payments are what originally created the rich millennia ago, and still keep them in their place.

It is only necessary to redirect these payments — land dues in, “rent” dividends back out — to dethrone the undeserved rich and close the yawning gaps in wealth and income. But first, critics might have to get over their money envy. More at Progress.org.


#20

Excellent insight! Bravo!


#21

Very Interesting and Shocking realities reveal about dodgers.

Find following on AMAZON BOOKS

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