April 9, 2016

Tax Avoidance Corporations

An outline of Tax Avoidance Corporations, some of whom received rebates,
is posted at the very bottom of this article.  First comes a response to the at-
tack of operatives known as the 53%.  Technically speaking, they turned in-
to magicians who quickly did a disappearing act shortly after they appeared.
The 47% of Americans who were free of income tax liability were entirely
misrepresented by the 53 Percent Movement founder in a very false light. 
Know this, there are multitudes of the 47% who worked harder than Rom-
ney, coming home exhausted after their work.  There were even more of the
same 47% who suffered far more than Romney, in enduring severe medical
conditions.  While the Romney tape was aired on one TV show, another one
mentioned how he made a $14 million in 2001 while being unemployed.

To start, the 47% refers to households, as opposed to individuals.  Many of the
47% pay a number of taxes.  This includes property taxes, sales tax, per capita
taxes, gasoline taxes, the Medicare tax, FICA, vehicle registration tax, and the
payroll tax.  In fact, 28.3% of the citizens who didn't pay any federal income
tax payed the payroll tax.  Moreover, 10.3% the disrespected 47% comprised
retired households.

The truth is that only 18.1% of households payed neither payroll nor income tax,
and these are mostly the elderly and disabled.  Meanwhile 6.9% of the 47% do
work, but make less than $20,000 annually, meaning that they qualify for deduc-
tions and the Earned Income Tax Credit.  Add to the list of people Romney re-
garded as not worth his concern the combat troops in Afghanistan.  They do
NOT pay income taxes, either.





                 There are major corporations that paid no income taxes

Twenty-six corporations were cited as having payed more to their CEOs than to the




                        In his quest to be captain of the American ship, 
                        Romney's message is:  Every man for himself.

Romney resolved to ignore 47 to 49 percent of America's citizens, at least for the
election.  If you construe his grammar literally, it means he completely disowns &
ignores 47% of the United States.  None the less, in response to Romney saying
that 47% are dependent on the government, as if the lobbyist-infested corporate
world doesn't, the following applies:

            Corporate executives are dependent on the government, to allow
            them to make the types of profits they have been making, all the
            while having the luxury of overseas tax shelters.  This sometimes
            requires the Congress to make sure that injustice will reign.  There
            are corporations who have depended on corporate welfare, also.
            This included the $700 billion+ Bust Bailout Dollars.

           If Romney states that all Americans are to be on their own, then
           who needs a president?   ... or a congress? ...  or law?  Let's turn
           America into the Wild West and see how long the 1% last.

           Rommey said that 47% of America think that they are entitled to all
           types of hand-outs, despite the fact that 28.3% + 6.9% of them work.
           Meanwhile 10.3% are retired.  According to Romney's logic, 85 year
           old citizens are leeches.  Making windfall profits on 75 and 85 cent
           an hour labor makes a CEO the ultimate leech . . . a leech who sucks
           the blood of workers.  Plus, charging unjustly high prices makes one
           as much of a leech . .  . a leech of the common citizen.  Romney has
           a way of making a person feel very very very alone. 

          Corporate management logically caused today's rate of  unemployment,
           being management stopped hiring in the quantities needed ... Workers
           did NOT lay themselves off.  Nor did they padlock their own factories.

           Yet corporate surrogates blame unemployment upon the unemployed.

          Inordinately low foreign labor merchandising robbed Americans of their
          jobs and it robbed potential American entrepreneurs of their chance to
          have a competitive businesses, being that a business comprising $15 an
          hour employees can't compete with businesses that have 85 cent an hour
          employees with zero benefits.  How many shares of sweatshop corporate
          stock does Romney hold?  And he has the audacity to call others leeches.

            When Romney states "Free Trade," he means free of law and order;
            Free of the civil rights requirement to pay a livable wage - free of reg-
            ulation.  In as much, there is nothing free about profiteering from trade
            that involves slave labor.  What Romney calls Free Trade is Slave La-
            bor Merchandise Trade.

           Compliments of Senator Bernie Sanders of Vermont, here is the list of
           ten of the most proliferate corporate income tax avoiders, quoted from:


1) Exxon Mobil 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, according
     to its SEC filings.  (Source:  Exxon Mobil's 2009 shareholder report filed with
     the SEC.)

2)  Bank of America received a $1.9 billion tax refund from the IRS last year, al-
      though it made $4.4 billion in profits and received a bailout from the Federal
      Reserve & the Treasury Department of nearly $1 trillion.  (Source Forbes.
      com, Pro Publica and Treasury.)

3) Over the past five years, while General Electric made $26 billion in profits in the
    United States, it received a $4.1 billion refund from the IRS.  (Source: Citizens
     for Tax Justice and The New York Times.   Note despite rumors to the con-
     trary, the Times has stood by its story.)

4) Chevron received a $19 million refund from the IRS last year after it made $10 bil-
     lion in profits in 2009.  (Source: See 2009 Chevron annual report here.  Note 15,
     on page FS-46 of this report shows a U.S. federal income tax liability of $128 mil-
     lion, but that it was able to defer $147 million for a U.S. federal income tax liability
     of $-19 million)

5) Boeing, which received a $30 billion contract from the Pentagon to build 179 air-
    borne tankers, got a $124 million refund from the IRS last year.  (Source: Paul
    Buchheit, professor, DePaul University, and Citizens for Tax Justice.)

6) Valero Energy, the 25th largest company in America with $68 billion in sales last
     year, received a $157 million tax refund check from the IRS and, over the past
     three years, it received a $134 million tax break from the oil and gas manufactur-
     ing tax deduction.  (Source: the company's 2009 annual report, pg. 112.)

7) Goldman Sachs in 2008 only paid 1.1 percent of its income in taxes, even though 
     it earned a profit of $2.3 billion and received almost $800 billion from the Federal
     Reserve and U.S. Treasury Department.  (Source: Bloomberg News, Pro Publica,
     Treasury Department.)

8)  Citigroup last year made more than $4 billion in profits but paid no federal income
      taxes.  It received a $2.5 trillion bailout from the Federal Reserve and U.S. Trea-
      sury.  (Source:  Paul Buchheit, professor, DePaul Univ., ProPublica, Treasury

9) Conoco Phillips, the fifth largest oil company in the United States, made $16 billion
     profits from 2006 through 2009, but received $451 million in tax breaks through
     the oil and gas manufacturing deduction.  (Sources: The deduction can be found
     on the company's 2010 SEC 10-K report to shareholders on 2009 finances, pg.

10)  Over the past five years, Carnival Cruise Lines made more than $11 billion in
        profits, but its federal income tax rate during those years was just 1.1 percent.
        (Source:  The New York Times)

After viewing all that you have viewed at this site, from trade balance deficit stats to
military spending stats to corporate welfare stats to national debt stats, do you real-
ize that the conservative wing of America is a collective and perpetual liar as much
as it is a collective plague of locusts eating up our land?  Incidentally, in the texts of
Machiavelli, conservative meant miser.  Today, in light of sweatshop profiteering
and corporate tax breaks, conservative now means thief ... and liar.  The video evi-
dence shows the Romney was already poised to abandon half of America.  Romney
has a way of making a person feel very very very alone.