Thursday, March 31, 2011

FUBOA and the Horse You Rode in On!

by Pa Rock
Citizen Journalist

Bernie Sanders, America's Senator. recently highlighted a list of sleazy American corporations that didn't pay taxes last year.  This is his list of the rich piggies who couldn't be bothered with paying taxes - or paid damned little:

1.  Exxon Mobil had $19 billion in profits in 2009 and paid no federal income taxes.  To frost the cake, Exxon actually received a $156 million dollar rebate from the IRS!  Thanks, suckers!

2.  Bank of America made $4.4 billion in profits last year and received a $1.9 billion dollar tax refund from the IRS.   Bank of America also received a nearly $1 trillion bailout from the feds during 2009.  How does that make you squeal?  BOA owns Community Bank which has facilities on most of the military bases on Okinawa, and it is, by necessity, where I do my local banking.  This week I had to pay my rent.  To do that I had to trade dollars for yen, and BOA was selling yen at the horribly low rate of 79 to the dollar.  However, if a person had plenty of yen, they would buy it back for 83 to the dollar.  Crooked conniving bastards!  FUBOA and the horse you rode in on!

3.  General Electric has made a whopping $26 billion in profits over the past five years, and during that same time the former employer of Ronald Reagan has received $4.1 billion in federal refunds.  GE currently has launched a Twitter campaign trying to convince the public that the company is porking them in the nicest possible way!

4.  Chevron got a $19 million refund from the IRS last year after making $10 billion in profits.  Think about that one the next time you pull up to the pump and start going through sticker shock!  Asshats!

5.  Boeing just received a $30 billion contract from the Pentagon to build airborne tankers - after lubricating enough congressmen to get the original contract taken away from a foreign contractor.  Boeing also got a $124 million refund last year.  And those tankers will arrive late and have massive cost overruns attached - and Boeing won't pay any taxes on those profits either and will probably score another hefty tax refund.

6.  Valero Energy had $68 billion in sales last year and managed to drag in a $157 million dollar tax refund.  Over the past three years it has received a $143 million tax break from the oil and gas manufacturing deduction.

7.  Goldman Sachs did pay some taxes in 2008 (yeah, team!), but that was only 1.1 percent of its income profit of $2.3 billion.  Goldman Sachs also received almost $800 billion in bailout money from the feds.

8.  Citigroup made over $4 billion in profits last year but paid no federal income taxes.  It's portion of the federal bailout was $2.5 trillion.  Pig, pig, piggie!

9.  Conoco Phillips made $16 billion in profits from 2007 through 2009, but it received $451 million in tax breaks through the oil and gas manufacturing deduction.  (Maybe if I did a big hole in my back yard and claim to be hunting for oil, I could skip paying taxes and get a big refund!)

10.  Carnival Cruise Lines made more than $11 billion in profits over the past five years, but paid a tax rate of only 1.1 percent.  And they made that money while cruising!

But our politicians - especially the teabaggers - are out in front of things.  They are going to save the entire country by defunding NPR and Planned Parenthood - a savings that wouldn't cover the cost of doughnuts at the annual GE stockholder's meeting!  Meanwhile, the teabaggers and every other single Republican Congressman voted to continue tax breaks to the oil and gas companies.  They know where the campaign cash is stacked!

The Supreme Court declared more than a century ago that corporations are people - but they are obviously very, very special people!  

Bernie, if the tax man leaves me any money this year, I will send a few bucks to you.  An honest politician is as rare as a corporation that pays its fair share to the government.   You, sir, are a gem!

1 comment:

Don said...

Right on! Bernie Sanders is a national treasure.