Saturday, December 10, 2011

This Just Ain't Right

This table from Think Progress shows 30 corporations who all made millions (and some of them billions) in profits from 2008 to 2010. Only one of the 30 paid any income taxes on that profit (FedEx), thanks to subsidies and tax loopholes. But all of them paid enormous amounts to lobby Congress -- ranging from $840,000 (Mattel) to $84,350,000 (General Electric). As a whole, these companies paid a whopping $475,670,000 to lobby Congress while receiving $10,602,000 in tax rebates (that's what our government paid them).

Frankly, I think if these companies could pay $475.67 million to lobby Congress then there is no justifiable reason for them to have not paid their fair share in income taxes -- they could obviously afford it. This is how out-of-whack our tax system and economy has become. If middle class Americans can pay taxes, then corporations making millions or billions in profits should pay taxes. But the Republicans want to cut corporate taxes even more (while making workers pay more in payroll taxes). How can a working class or middle class American justify voting Republican?

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