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handmade34 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Nov-03-11 06:46 AM
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"Big corporations use loopholes..."

"...The report also noted that defense contractors paid notably low rates, averaging about 15 percent...

Gas and electric utilities also tend to pay less. Last year, Pepco Holdings made $229 million in pretax profits, the study said, and claimed $270 million in federal tax credits, making the companys tax rate about minus 118 percent... ...The report said that many other companies took advantage of tax breaks that favor certain industries, including drilling for oil and gas, making video games, building NASCAR racetracks, producing ethanol, and making movies.

Combined, the companies examined earned almost $1.4 trillion in pretax profits, according to the study. As a group, however, the firms claimed $223 billion in subsidies, with Wells Fargo, AT&T and Verizon topping the list..... the report shows how the power of these companies has grown over time. /

"Many companies pay no income taxes, study finds..."

(Reuters) - "Thirty large and profitable U.S. corporations paid no income taxes in 2008 through 2010, said a study on Thursday that arrives as Congress faces rising demands for tax reform, but seems unable or unwilling to act..."

THANK YOU OCCUPIERS for bringing this to the front page...!!!

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zbdent Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Nov-03-11 09:27 AM
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1. I wonder how many corporations make up the "47%" that
the guy in the "I am the 53%" video seems to think are all liberal deadbeats ...
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bemildred Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Nov-03-11 09:53 AM
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2. Big corporations lobby vigorously to create loopholes.
They don't just pop up like mushrooms, by accident.
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