Fascism should more appropriately be called Corporatism because it is a merger of state and corporate power. ~Benito Mussolini
1~ExxonMobil made $19 billion in profits in 2009. Exxon not only paid no federal income taxes, it actually received a $156 million rebate from the IRS. Plus, it didn't pay any Federal Taxes.
2~Bank of America made $4.4 billion in profits last year. This was after it received a $1 TRILLION bailout from the Federal Reserve and the Treasury Department, and a $1.9 billion tax refund from the IRS.
3~General Electric has made $26 billion in profits in the United States over the past five years. It's also received a $4.1 billion tax refund from the IRS. GE has cut a fifth of its American jobs in the past nine years, and is boosting jobs overseas~where tax rates are lower. And where it can continue evading U.S. taxes.
4~Chevron's IRS refund last year totaled $19 million, but its 2009 profits came to a whopping $10 billion.
5~Boeing received a &30 billion contract from the Pentagon to build 179 airborne tankers. It also received a $124 million refund from the IRS.
6~Valero Energy made $68 billion in sales and received a $157 million tax refund check from the IRS. Over the past three years, it has received a $134 million tax break thanks to oil and gas manufacturing tax reduction.
7~Goldman Sachs paid 1.1% of its 2008 income in taxes. Yet it made a profit of $2.3 billion. And guess how much it received from the Federal Reserve and U.S. Treasury Department? $800 billion.
8~Citigroup profits last year totaled more than $4 billion. But it paid zero dollars in federal income tax, and received a $2.5 trillion bailout from the Federal Reserve and U.S. Treasury.
9~ConocoPhillip' profits from 2007 through 2009 totaled $16 billion. But it was still awarded $451 million in tax breaks because of the oil and gas manufacturing deduction.
10~Carnival Cruise Lines is apparently getting pretty good business: It's profits over the past five years totaled more than $11 billion. Its federal income tax rate; however, came to just 1.1%.
And how can they get away with this? Well, with all that money to throw at accountants and lawyers is it really any wonder. Wow, imagine how much a single mother of 3 working 3 jobs just to get by could get back form the IRS If she had access to all those resources. Dare to dream.
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