Verizon Paid a -2.9% Tax Rate From 2008-2010
Verizon enjoyed some $14 billion in federal and state corporate income tax subsidies in the 2008-2010 period even though it earned $33.4 billion in pre-tax U.S. income during that time.
At the federal level, Verizon should have paid about $11.4 billion at the statutory rate of 35 percent during the three-year period. Instead, it got $951 million in rebates, putting its federal tax subsidies at $12.3 billion. Its effective federal tax rate was -2.9 percent.
With shit like this going on,
why should any of us feel obligated to pay our taxes?
(Source: dedieu, via fungusmonk)
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fuckyourcapitalistbullshit reblogged this from fungusmonk and added:
With shit like this going on, why should any of us feel obligated to pay our taxes?
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bad-zoo said:
Shit. Most of the world’s problems could be sorted within weeks if greedy people didn’t exist. What the fuck!? So sad.
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fishwasmade said:
smh.
