26 Major Corporations Paid No Corporate Income Tax For The Last Four Years, Despite Making Billions In Profits
Door Pat Garafalo, ThinkProgress, 9 april 2012
Last year, Citizens for Tax Justice [CTJ] found that 30 major corporations had made billions of dollars in profits while paying no federal income tax between 2008 and 2010. Today, CTJ updated that report to reflect the 2011 tax bill of those 30 companies, and 26 of them have still managed to pay absolutely nothing over that four year period
[...] CTJ noted that “had these 30 companies paid the full 35 percent corporate tax rate over the 2008-11 period, they would have paid $78.3 billion more in federal income taxes.” And this is not a problem that only afflicts the U.S., as the UK found out last week that online retailer Amazon made billions in sales in 2011, while paying nothing in corporate taxes.
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