These 30 American Corporations Paid $0 of Income Taxes for Three years

[e3lal]

The corporate tax rate in the U.S. is 35%, but there aren’t many companies that end up paying that amount. According to a study by the Citizens for Tax Justice and the Institute on Taxation and Economic Policy, the average tax rate of 280 S&P 500 companies investigated was 18.5% between 2008 and 2010.
Over 70 companies paid no taxes at all.

And then there were the 30 companies that paid less than nothing — we have those for you here.

But first, here’s how they get away with it (from the report):

• Accelerated depreciation: “The tax laws generally allow companies to write off their capital investments considerably faster than the assets actually wear out. This “accelerated depreciation

 

[foxdawg2000]

Not surprised at all... It's not a level playing ground for company/individual.. the supreme court decision last yr proved that.. Corporate America = God .. whether you like it or not..






GIFSoup

 

[throwedindagame]

Originally Posted by foxdawg2000

Not surprised at all... It's not a level playing ground for company/individual.. the supreme court decision last yr proved that.. Corporate America = God .. whether you like it or not..






GIFSoup

If you can't beat for them, get a high paying job working for them.

 

[curbyourenthusiasm]

the most telling thing i read is that they actually introduced legislation which became law to address the inequality in income...and business immediately (less than 3 years) came up with a loophole.....which actually got them paid more...

the whole "sell them discounted stocks as a bonus, but then get paid back in tax breaks for the discount you gave your employee" thing is ridiculous.