Corporate tax dodging costing more than $100b a year

Posted by | April 16, 2016 10:48 | Filed under: News Behaving Badly

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The United States is losing billions of dollars a year because of corporate tax dodges.

This week, anti-poverty group Oxfam America published a report that analyzed the financial reports of the 50 largest publicly traded U.S. companies. The organization found that behemoths such as Apple, General Electric, Microsoft and Google engage in tax havens that costs the U.S. $111 billion annually. Apple was cited by Oxfam as one of the biggest corporate offenders, holding some $181 billion in money offshore, followed by GE’s $119 billion and Microsoft’s $108 billion.

The U.S’s effective corporate tax rate is 35 percent, but the study found that companies used a variety of tax strategies to cut that rate to just 26.5 percent—with only 5 of the 50 companies paying the full 35 percent.

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Copyright 2016 Liberaland
By: Alan

Alan Colmes is the publisher of Liberaland.

20 responses to Corporate tax dodging costing more than $100b a year

  1. Suzanne McFly April 16th, 2016 at 11:25

    Yeah but you know how many people get $140 a month in food stamps!!!!!!!! Do you know how much steak and caviar that buys them?…….well, not much but that is what the far right likes to say when we talk about rich tax dodgers.

  2. Buford2k11 April 16th, 2016 at 11:53

    So…How does “corporations are people” fit in? I just got done paying the IRS for reasons I cannot really explain…But they got their blood money from my fixed income….thank you ONE PERCENTERS…I paid your taxes….

  3. oldfart April 16th, 2016 at 11:59

    Hell, the bastards are only getting warmed up…
    Total world domination is the ultimate goal.
    If that happens, who’s going to be able to stop them ?

    • Tommie April 16th, 2016 at 13:30

      Maybe, all the poor people will rise and “Take their country back.”

      • oldfart April 16th, 2016 at 15:20

        Eat the rich…they will be the only ones with anything left.

    • anothertoothpick April 16th, 2016 at 14:25

      The billionares are the only group that can still afford space exploration.

      They take all the taxpayer paid for research and make trillions.

      We are a bunch of punk ass suckers!

      • oldfart April 16th, 2016 at 15:23

        We WERE a bunch of suckers…not anymore.

    • bpollen April 16th, 2016 at 16:44

      Remember the movie “Rollerball?”

      • oldfart April 16th, 2016 at 16:49

        And a very young James Conn…sure do.

  4. William April 16th, 2016 at 12:06

    If corporations are people, why doesn’t congress want to cut their welfare?

    • Debradwhite April 17th, 2016 at 02:04

      “my room mate Mary Is getting paid on the internet 98$/hr”..,……..!wc347ctwo days ago grey MacLaren P1 I bought after earning 18,512 DoIIars..it was my previous month’s payout..just a little over.17k DoIIars Last month..3-5 hours job a day…with weekly payouts..it’s realy the simplest. job I have ever Do.. I Joined This 7 months. ago. and now making over. hourly 87 DoIIars…Learn. More right Here !wc347:➽:➽:➽➽➽➽ http://GlobalSuperJobsReportsEmploymentsMatterGetPayHourly$98…. .❖❖:❦❦:❖❖:❦❦:❖❖:❦❦:❖❖:❦❦:❖❖:❦❦:❖❖:❦❦:❖❖:❦❦:❖❖:❦❦:❖❖:❦❦:❖❖:❦❦:❖❖:❦❦::::::!wc347……..

  5. Tommie April 16th, 2016 at 13:28

    And yet people get mad when people need food stamps and welfare to survive and companies complain how they can’t afford to pay people a decent wage, bastards!

  6. anothertoothpick April 16th, 2016 at 14:22

    Even Apple, normally viewed as the singular creation of the lone genius of Steve Jobs, owes much to government.Apple received crucial finance in its early years from the U.S. government’s small-business investment program. Every one of the most important technologies in Apple’s smart products, including the iPhone and iPad, were developed elsewhere and largely thanks to state funding.

    These corps take taxpayer paid for research and pocket the profits.

    Apple owes its existance to tax payers. Cut dividend checks to taxpayers And then they should pay their taxes.

    The government invented the nuclear industry, but I have not yet received my bonus check from Bechtel .

  7. bpollen April 16th, 2016 at 16:43

    When your company can make $40 billion and the government gives you a $4 billion refund, there is something seriously wrong with how the tax burden is distributed.

  8. Kick Frenzy April 16th, 2016 at 21:00

    https://i.ytimg.com/vi/C7L9V7oGRv8/maxresdefault.jpg

    • Mensa Member April 16th, 2016 at 21:55

      We need a Democratic Congress and filibuster-proof majority in the Senate.

      No matter how great Bernie is, he won’t get much done with a bunch of obstructionist Republicans in the legislative branch.

      • Kick Frenzy April 19th, 2016 at 19:21

        True, but also true for Hillary.
        And to be bluntly honest, if Hillary gets the candidacy… blue votes for House and Senate will not have a flood of passion supporting them.
        Instead, there will be a slow moving creek… devoid of passion and only ticking of the blue boxes because they’re already at the poll anyway.

        What we REALLY need is for Bernie to get the candidacy, for the passion to extend out to Blue candidates and especially those who are most like Bernie is their stances.

        THAT is what the country actually needs.
        I sincerely hope we don’t end up with “vote for Hillary because she’s your only choice… and don’t forget the others”.

        It’s worth noting, I see more support for downticket Dems from Bernie supporters than I do from Hillary supporters.
        I know I’ve contributed funding to downticket Dems because of Bernie… something I’ve never, ever done before.

  9. Tim Coolio April 16th, 2016 at 21:37

    The modern day robber-barrons that want to make our economy hit rock-bottom hard and fast like in the late 1920s with GOP depression #1

    • Mensa Member April 16th, 2016 at 21:51

      The rich view a crashed economy as a buying opportunity.

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