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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsSix major banks paid only an 11% tax rate. Had they paid at 35%. . .
Six banks Bank of America, Wells Fargo, Citigroup, JPMorgan Chase, Goldman Sachs, and Morgan Stanley together paid income tax at an approximate rate of 11%
Six banks Bank of America, Wells Fargo, Citigroup, JPMorgan Chase, Goldman Sachs, and Morgan Stanley together paid income tax at an approximate rate of 11% of their pre-tax US earnings in 2009 and 2010. Had they paid at 35%, what they are legally mandated to pay, the federal government would have received an additional $13 billion in tax revenue. This would cover more than two years of salaries for the 132,000 teacher jobs lost since the economic crisis began in 2008.
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http://boldprogressives.org/if-banks-paid-their-full-taxes-we-could-re-hire-all-130000-teachers-laid-off-during-the-recession/
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Six major banks paid only an 11% tax rate. Had they paid at 35%. . . (Original Post)
ProfessionalLeftist
Dec 2012
OP
Mnemosyne
(21,363 posts)1. K&R nt
peacebird
(14,195 posts)2. Off to the greatest page!
Hydra
(14,459 posts)3. Subsidizing billionaires
One teacher and student at a time.
Downtown Hound
(12,618 posts)4. Catering to the whins of the "job creation class"
At the expense of everybody else.
joeunderdog
(2,563 posts)5. Shit like this makes it all seem so obvious.
How does anyone vote for pols who accept this?