Corporate Tax Dodgers

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According to Citizens for Tax Justice thirty major corporations paid less than nothing in aggregate federal income taxes over the entire 2008-10 period. These companies so deftly exploited carve outs and loopholes in the tax code that all but one of them enjoyed a negative tax rate over the three year period, while spending nearly half a billion dollars to lobby Congress on issues including tax policy. Altogether they collected $10.6 billion in tax rebates from the federal government.

As CTJ's report put it, "just as workers pay their fair share of taxes on their earnings, so should successful businesses pay their fair share on their success. But today corporate tax loopholes are so out of control that most Americans can rightfully complain, 'I pay more federal income taxes than General Electric, Boeing, DuPont, Wells Fargo, Verizon, etc., etc., all put together.' That's an unacceptable situation." And its one that lawmakers could fix, if they were willing to stand up to the nation's biggest corporations.

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