With tax season coming around, you’ll be disgusted to see how much money these “American” companies don't pay.
While you’re stressing about how much of your money is going to welfare, illegal immigrants, and other people’s healthcare, it’s really disturbing to read how many loopholes exist for these multi-billion dollar corporations.
Forbes reports, “Some companies say they would like nothing better than repatriating profits to the U.S. if they could only do it in a way that won’t be taxed… There are 20 such companies in the Standard & Poor’s 500… They reported effective tax rates of 0% or lower in the second calendar quarter despite reporting a profit for that same period.”
America is the reason these companies have become so incredibly successful in the first place. We buy from them, they make more jobs, we boost them up while they boost us up. But suddenly, to save some money, they’ll go and stab us all in the back. You’ll be horrified at some of the companies that participate in these egregious acts against America. We need to do all we can to get these laws changed!
1. Merck & Co.
Merck is a pharmaceutical company that made over $2 billion in 2014. Thanks to their offshore investments, they didn’t pay a dime in taxes.
2. General Motors
When GM got bailed out by U.S. taxpayers, they struck a deal with the government that doesn’t require them to pay over $45 billion in taxes. Don’t we all wish we could make a deal like that?
3. Public Storage
With their Orange doors, Public Storage is a well-known company that protects your assets. But did you know they protected their own assets by not paying taxes for the $276 million they made?
4. Verizon
Verizon doesn’t answer the phone for the taxman! The company had over $1.9 billion in offshore investments…none of which was taxed.
5. General Electric
General Electric makes a lot of products…but did you know they shipped $108 billion overseas to avoid paying anything back?
6. FedEx
From 2010–2012, FedEx made $5.7 billion… Maybe they lost their taxes in the mail?
7. Bank of America
Bank of America loves their money more than yours! They made $17.2 billion offshore — and kept it there tax-free!
8. Microsoft
In 2011, Microsoft hacked their way out of $2.43 billion in taxes thanks to their banks in Puerto Rico.
9. Goldman Sachs
Goldman Sachs is too big to tax apparently? Not only did the Wall Street company not pay taxes, but they got $800 billion from normal tax-paying citizens. It’s good to have powerful friends in Washington.
10. Citigroup
Citigroup was another company that got a federal bailout: $2.5 trillion went their way when they needed it. How much in federal income taxes did they pay last year? Zero.
11. Apple
iDon’tpay! The apple doesn’t fall far from the tree! Apple has $102 billion offshore, none of which has been taxed. Maybe they should store it all in the cloud?
12. Boeing
Boeing threatened to leave Washington State and bullied the government into giving the company $8.7 billion in tax breaks. Boeing seems to be “flying high” in the face of the American people.