Top 10 US Corporate Tax Avoiders Named on Senate Floor

by admin 5. April 2011 17:32

Can you believe paid more taxes than ExxonMobil, Bank of American and GE? Read this article.

Despite complaints about the U.S.'s burdensome 35% corporate tax rate, two-thirds of American corporations pay no taxes in a given year. In a speech last week on the Senate floor, Senator Bernie Sanders of Vermont called out the top 10 corporate tax avoiders:

Among those actually getting money back from the Feds:

  • ExxonMobil made $19 billion in profits in 2009, paid no federal income taxes, received a $156 million rebate
  • Bank of America received a $1.9 billion IRS refund despite $4.4 billion of profits
  • General Electric had $26 billion in profits, and $4.1 billion refund (GE made it onto another top 10 list of top corporate lobbyists in 2010, spending $39 million)
  • Chevron nabbed a $19 million refund after making $10 billion in profits
  • ....


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