Sunday, February 10, 2013

Are Int. Corporations using US Taxpayers as Kleenex and Toilet Paper?





Text with below video:


31 Corporations and Banks Who Dodged $128 Billion in US Taxes
[source]

Sen. Bernie Sanders released a report today directly taking on the Business Roundtable, by outing 31 banks and corporations who have dodged $128 billion in taxes.

According to the report, the 31 corporations and banks have dodged $128 billion in taxes by setting up offshore tax havens. They have received $6.5 billion in tax refunds, and $2.5 trillion in taxpayer bailout money. While stuffing their pockets with trillions of taxpayer dollars, the Business Roundtable has called for the deficit to be reduced by raising the eligibility age for Medicare and Social Security to 70, cut Social Security and veterans’ benefits, and increase taxes on working families.

The reason why congressional Republicans are adamantly opposed to generating new revenue through closing these loopholes is that doing so would force these tax dodgers to pay their fair share. For Republicans, the concept of fairness only applies to making sure the wealthy get more by doing less. One of the reasons why Republicans continue to lose elections is because they insist on protecting corporations and banks at the expense of the American people.

Instead of passing the burden of deficit reduction on to workers, seniors, the poor, and the middle class, how about we start with getting the 31 corporations and banks listed below to pay their taxes?

Here is the list:



1. Bank of America CEO Brian Moynihan.

Number of Offshore Tax Havens in 2010? 371.

Amount of federal income taxes Bank of America would have owed if offshore tax havens were eliminated? $2.5 billion.

Amount of federal income taxes paid in 2010? Zero. $1.9 billion tax refund.

Bank of America received a $1.9 billion tax refund from the IRS in 2010, even though it made $4.4 billion in profits.

Taxpayer Bailout from the Federal Reserve and the Treasury Department? Over $1.3 trillion.



2. JP Morgan Chase CEO James Dimon

Number of Offshore Tax Havens in 2010? 83.

Amount of federal income taxes JP Morgan Chase would have owed if offshore tax havens were eliminated? $4.9 billion
JP Morgan Chase has stashed $21.8 billion in offshore tax haven countries to avoid paying income taxes. If this practice was outlawed, it would have paid $4.9 billion in federal income taxes.

Taxpayer Bailout from the Federal Reserve and the Treasury Department? $416 billion.

3. Goldman Sachs CEO Lloyd Blankfein

Amount of federal income taxes paid in 2008? Zero. $278 million tax refund.

Number of offshore tax havens in 2010? 39.

In 2010, Goldman Sachs operated 39 subsidiaries in offshore tax haven countries.
Amount of federal income taxes Goldman Sachs would have owed if offshore tax havens were eliminated? $3.32 billion.
Taxpayer Bailout from the Federal Reserve and the Treasury Department? $824 billion.

During the financial crisis, Goldman Sachs received a total of $814 billion in virtually zero interest loans from the Federal Reserve and a $10 billion bailout from the Treasury Department.

4. General Electric CEO Jeffrey Immelt

Number of offshore tax havens? At least 14.

Amount of federal income taxes General Electric would have owed if offshore tax havens were eliminated? $35.7 billion.

GE has stashed $102 billion in offshore tax haven countries to avoid paying income taxes. If this practice was outlawed, it would have paid $35.7 billion
more in federal income taxes.

Amount of federal income taxes paid in 2010? Zero. $3.3 billion tax refund. In 2010, not only did General Electric pay no federal income taxes, it received a $3.3 billion tax refund from the IRS, even though it earned over $5 billion in U.S.
profits.

Taxpayer Bailout from the Federal Reserve? $16 billion.During the financial crisis, the Federal Reserve provided GE with $16 billion in
financial assistance, at a time when Jeffrey Immelt was a director of the New York Federal Reserve.

Jobs Shipped Overseas? At least 25,000 since 2001.

5. Verizon CEO Lowell McAdam

Amount of federal income taxes paid in 2010? Zero. $705 million tax refund.
In 2010, Verizon received a $705 million refund from the IRS despite earning $11.9 billion in pre-tax U.S. profits.
Amount of federal income taxes Verizon would have owed if offshore tax havens were eliminated? $525 million.
Verizon has stashed $1.5 billion in offshore tax havens to avoid paying U.S.
income taxes. Verizon would owe an estimated $525 million in federal income taxes if its use of offshore tax avoidance was eliminated.
American Jobs Cut in 2010? In 2010, Verizon announced 13,000 job cuts, the
third highest corporate layoff total that year.

6. Honeywell International CEO David Cote

Amount of federal income taxes paid from 2008-2010? Zero. $34 million tax refund.
From 2008 through 2010, not only did Honeywell pay no federal income taxes, it received a $34 million tax refund from the IRS, even though it earned over $4.9 billion in U.S. profits during those years.

Amount of federal income taxes Honeywell would have owed if offshore tax havens were eliminated? $2.835 billion.
Honeywell has stashed $8.1 billion in offshore tax havens to avoid paying U.S. income taxes. Honeywell would owe an estimated $2.835 billion in federal
income taxes if its use of offshore tax avoidance was eliminated.

7. Merck CEO Kenneth Frazier

Amount of federal income taxes paid in 2009? Zero. $55 million tax refund.
In 2009, not only did Merck pay no federal income taxes, it received a $55 million tax refund from the IRS, even though it earned more than $5.7 billion in U.S. profits.

Amount of federal income taxes Merck would have owed if offshore tax havens were eliminated? $15.5 billion.

Merck has stashed $44.3 billion in offshore tax haven countries to avoid paying income taxes. If this practice was outlawed, it would have paid $15.5 billion more in federal income taxes.

8. Corning CEO Wendell Weeks

Amount of federal income taxes paid from 2008-2010? Zero. $4 million tax refund. From 2008 through 2010, not only did Corning pay no federal income taxes, it received a $4 million tax refund from the IRS, even though it earned nearly $2 billion in U.S. profits during those years.

Amount of federal income taxes Corning would have owed if offshore tax havens were eliminated? $3.78 billion. Corning has stashed $10.8 billion in offshore tax havens to avoid paying U.S. income taxes. Corning would owe an estimated $3.78 billion in federal income taxes if its use of offshore tax avoidance was eliminated.

9. Boeing CEO James McNerney, Jr.

Amount of federal income taxes paid in 2010? None. $124 million tax refund.

Boeing, which received a $30 billion contract from the Pentagon to build 179 airborne tankers, got a $124 million refund from the IRS in 2010.

Amount of federal income taxes Boeing would have owed if offshore tax havens were eliminated? $66 million.

Boeing would owe an estimated $66 million more in federal income taxes if its use of offshore tax avoidance was eliminated.

American Jobs Shipped overseas? Over 57,000. Since 1994, more than 57,000 Americans lost their jobs at Boeing as a result of overseas outsourcing or rising imports.

Amount of Corporate Welfare? At least $58 billion.

10. Microsoft CEO Steve Ballmer

Amount of federal income taxes Microsoft would have owed if offshore tax havens were eliminated? $19.4 billion.
Microsoft has stashed over $60 billion in offshore tax haven countries to avoid paying income taxes. If this practice was outlawed, it would have paid 19.4 billion more in federal income taxes.

11. Qualcomm CEO Paul Jacobs

Amount of federal income taxes Qualcomm would have owed if offshore tax havens were eliminated? $5.8 billion.

Qualcomm has stashed $16.4 billion in offshore tax haven countries to avoid paying income taxes. If this practice was outlawed, it would have paid $5.8
billion more in federal income taxes.

12. Caterpillar CEO Douglas Oberhelman

Amount of federal income taxes Caterpillar would have owed if offshore tax havens were eliminated? $4.55 billion. Caterpillar has stashed $13 billion in offshore tax havens to avoid paying U.S. income taxes. Caterpillar would owe an estimated $4.55 billion in federal income taxes if its use of offshore tax avoidance was eliminated.

13. Cisco Systems CEO John Chambers

Amount of federal income taxes Cisco would have owed if offshore tax havens were eliminated? $14.455 billion.

Cisco has stashed $41.3 billion in offshore tax havens to avoid paying U.S. income taxes. Cisco would owe an estimated $14.455 billion in federal income
taxes if its use of offshore tax avoidance was eliminated.

14. Dow Chemical CEO Andrew Liveris

Amount of federal income taxes Dow Chemical would have owed if offshore tax havens were eliminated? $3.5 billion.

Dow has stashed $10 billion in offshore tax havens to avoid paying U.S. income taxes. Dow would owe an estimated $3.5 billion in federal income taxes if its use of offshore tax avoidance was eliminated.

15. Alcoa CEO Klaus Kleinfeld

Amount of federal income taxes Alcoa would have owed if offshore tax havens were eliminated? $2.9 billion.

Alcoa has stashed $8.3 billion in offshore tax havens to avoid paying U.S. income
taxes. Alcoa would owe an estimated $2.9 billion in federal income taxes if its use of offshore tax avoidance was eliminated.

16. Stanley Black & Decker CEO John Lundgren

Amount of federal income taxes Stanley Black & Decker would have owed if offshore tax havens were eliminated? $1.26 billion.
Stanley Black & Decker has stashed $3.6 billion in offshore tax havens to avoid paying U.S. income taxes. They would owe an estimated $1.26 billion in federal income taxes if its use of offshore tax avoidance was eliminated.

17. Motorola Solutions CEO Greg Brown

Amount of federal income taxes Motorola Solutions would have owed if offshore tax havens were eliminated? $350 million.Motorola Solutions has stashed $1 billion in offshore tax havens to avoid paying U.S. income taxes. They would owe an estimated $350 million in federal income
taxes if its use of offshore tax avoidance was eliminated.

18. Tenneco CEO Gregg Sherill

Amount of federal income taxes Tenneco would have owed if offshore tax havens were eliminated? $269 million.

Tenneco has stashed over $698 million in offshore tax haven countries to avoid
paying income taxes. If this practice was outlawed, it would have paid $269 million in federal income taxes.

19. Express Scripts CEO George Paz

Amount of federal income taxes Express Scripts would have owed if offshore tax havens were eliminated? $19 million.

Express Scripts has stashed over $54 million in offshore tax haven countries to avoid paying income taxes. If this practice was outlawed, it would have paid $19 million in federal income taxes.

20. Caesars Entertainment CEO Gary Loveman

Amount of federal income taxes Caesars Entertainment would have owed if offshore tax havens were eliminated? $15 million.

Caesars Entertainment has stashed $42 million in offshore tax haven countries to avoid paying income taxes. If this practice was outlawed, it would have paid about $15 million more in federal income taxes.

21. BlackRock CEO Larry Fink

Amount of federal income taxes BlackRock would have owed if offshore tax havens were eliminated? $525 million.

BlackRock has stashed $1.5 billion in offshore tax havens to avoid paying U.S. income taxes. BlackRock would owe an estimated $525 million in federal income taxes if its use of offshore tax avoidance was eliminated.

22. United Parcel Service (UPS) CEO D. Scott Davis

Amount of federal income taxes UPS would have owed if offshore tax havens were eliminated? $1.12 billion. UPS has stashed $3.2 billion in offshore tax havens to avoid paying U.S. income taxes. UPS would owe an estimated $1.12 billion in federal income taxes if its use of offshore tax avoidance was eliminated.

23. CA Technologies CEO William McCracken

Amount of federal income taxes CA Technologies would have owed if offshore tax havens were eliminated? $700 million.

CA Technologies has stashed nearly $2 billion in offshore tax havens to avoid paying U.S. income taxes. CA Technologies would owe an estimated $700 million in federal income taxes if its use of offshore tax avoidance was eliminated.

24. Eaton CEO Alexander Cutler

Amount of federal income taxes Eaton would have owed if offshore tax havens were eliminated? $2.24 billion.

Eaton has stashed $6.4 billion in offshore tax havens to avoid paying U.S. income taxes. Eaton would owe an estimated $2.24 billion in federal income taxes if its use of offshore tax avoidance was eliminated.

25. Nasdaq OMX Group CEO Robert Greifeld

Amount of federal income taxes Nasdaq OMX Group would have owed if offshore tax havens were eliminated? $21 million.

Nasdaq OMX Group has stashed $60 million in offshore tax havens to avoid paying U.S. income taxes. Nasdaq OMX Group would owe an estimated $21 million in federal income taxes if its use of offshore tax avoidance was eliminated.

26. Textron CEO Scott Donnelly

Amount of federal income taxes Textron would have owed if offshore tax havens were eliminated? $165 million.

Textron has stashed $470 million in offshore tax havens to avoid paying U.S. income taxes. Textron would owe an estimated $165 million in federal income
taxes if its use of offshore tax avoidance was eliminated.

27. Thermo Fisher Scientific CEO Marc Casper

Amount of federal income taxes Thermo Fisher Scientific would have owed if offshore tax havens were eliminated? $1.645 billion.Thermo Fisher Scientific has stashed $4.7 billion in offshore tax havens to avoid paying U.S. income taxes. Thermo Fisher Scientific would owe an estimated
$1.645 billion in federal income taxes if its use of offshore tax avoidance was eliminated.

28. Weyerhaeuser CEO Daniel Fulton

Amount of federal income taxes Weyerhaeuser would have owed if offshore tax havens were eliminated? $8 million.

Weyerhaeuser has stashed $22 million in offshore tax havens to avoid paying U.S. income taxes. It would owe an estimated $8 million in federal income taxes if its use of offshore tax avoidance was eliminated.

29. World Fuel Services CEO Paul Stebbins

Amount of federal income taxes World Fuel Services would have owed if offshore tax havens were eliminated? $278 million.

World Fuel Services has stashed $794 million in offshore tax havens to avoid paying U.S. income taxes. It would owe an estimated $278 million in federal
income taxes if its use of offshore tax avoidance was eliminated.

30. Time Warner CEO Glenn Britt

Amount of federal income taxes paid in 2008? Zero. $74 million tax refund.

In 2008, not only did Time Warner pay no federal income taxes, it received a $74 million tax refund from the IRS, even though it earned over $2 billion in U.S. profits.

31. R.R. Donnelly & Sons CEO Thomas Quinlan III

Amount of federal income taxes paid in 2008? Zero. $49 million tax refund. In 2008, not only did R.R. Donnelly & Sons pay no federal income taxes, it
received a $49 million tax refund from tax refund from the IRS, even though it earned $561 million in U.S. profits.

http://www.politicususa.com/sanders-report-corporations-tax-dodge.html?utm_source=feedburner&;utm_medium=feed&utm_campaign=Feed%3A+politicususa%2FfJAl+%28Politicus+USA+%29




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Steven G. Erickson's LiveLeak.com posts and video uploads [found here]

Corporations are not people. They are countries without actual borders. They are foreign powers. These foreign powers control the US Government using money stolen from US taxpayers. We are under armed occupation. We are taxed and have no real representation. It is time to end the international corporate and banker occupation of the entire world. They are few, we are many. Let's show them our numbers and our power.

http://thegetjusticecoalition.blogspot.com/

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The below was [found here]

Billionaires Continue To Dump U.S. Stocks, Traders Are Betting Against U.S. Economy!!



Despite the 6.5% stock market rally over the last three months, a handful of billionaires are quietly dumping their American stocks . . . and fast.


Warren Buffett, who has been a cheerleader for U.S. stocks for quite some time, is dumping shares at an alarming rate. He recently complained of “disappointing performance” in dyed-in-the-wool American companies like Johnson & Johnson, Procter & Gamble, and Kraft Foods.

In the latest filing for Buffett’s holding company Berkshire Hathaway, Buffett has been drastically reducing his exposure to stocks that depend on consumer purchasing habits. Berkshire sold roughly 19 million shares of Johnson & Johnson, and reduced his overall stake in “consumer product stocks” by 21%. Berkshire Hathaway also sold its entire stake in California-based computer parts supplier Intel.

With 70% of the U.S. economy dependent on consumer spending, Buffett’s apparent lack of faith in these companies’ future prospects is worrisome.

Unfortunately Buffett isn’t alone.

Fellow billionaire John Paulson, who made a fortune betting on the subprime mortgage meltdown, is clearing out of U.S. stocks too. During the second quarter of the year, Paulson’s hedge fund, Paulson & Co., dumped 14 million shares of JPMorgan Chase. The fund also dumped its entire position in discount retailer Family Dollar and consumer-goods maker Sara Lee.

Finally, billionaire George Soros recently sold nearly all of his bank stocks, including shares of JPMorgan Chase, Citigroup, and Goldman Sachs. Between the three banks, Soros sold more than a million shares.

So why are these billionaires dumping their shares of U.S. companies?

After all, the stock market is still in the midst of its historic rally. Real estate prices have finally leveled off, and for the first time in five years are actually rising in many locations. And the unemployment rate seems to have stabilized.

It’s very likely that these professional investors are aware of specific research that points toward a massive market correction, as much as 90%.

One such person publishing this research is Robert Wiedemer, an esteemed economist and author of the New York Times best-selling book Aftershock.
Before you dismiss the possibility of a 90% drop in the stock market as unrealistic, consider Wiedemer’s credentials.

In 2006, Wiedemer and a team of economists accurately predicted the collapse of the U.S. housing market, equity markets, and consumer spending that almost sank the United States. They published their research in the book America’s Bubble Economy.

The book quickly grabbed headlines for its accuracy in predicting what many thought would never happen, and quickly established Wiedemer as a trusted voice.

A columnist at Dow Jones said the book was “one of those rare finds that not only predicted the subprime credit meltdown well in advance, it offered Main Street investors a winning strategy that helped avoid the forty percent losses that followed . . .”

The chief investment strategist at Standard & Poor’s said that Wiedemer’s track record “demands our attention.”

And finally, the former CFO of Goldman Sachs said Wiedemer’s “prescience in (his) first book lends credence to the new warnings. This book deserves our attention.”

In the interview for his latest blockbuster Aftershock, Wiedemer says the 90% drop in the stock market is “a worst-case scenario,” and the host quickly challenged this claim.

Wiedemer calmly laid out a clear explanation of why a large drop of some sort is a virtual certainty.

It starts with the reckless strategy of the Federal Reserve to print a massive amount of money out of thin air in an attempt to stimulate the economy.

“These funds haven’t made it into the markets and the economy yet. But it is a mathematical certainty that once the dam breaks, and this money passes through the reserves and hits the markets, inflation will surge,” said Wiedemer.

“Once you hit 10% inflation, 10-year Treasury bonds lose about half their value. And by 20%, any value is all but gone. Interest rates will increase dramatically at this point, and that will cause real estate values to collapse. And the stock market will collapse as a consequence of these other problems.”
And this is where Wiedemer explains why Buffett, Paulson, and Soros could be dumping U.S. stocks:

“Companies will be spending more money on borrowing costs than business expansion costs. That means lower profit margins, lower dividends, and less hiring. Plus, more layoffs.”

No investors, let alone billionaires, will want to own stocks with falling profit margins and shrinking dividends. So if that’s why Buffett, Paulson, and Soros are dumping stocks, they have decided to cash out early and leave Main Street investors holding the bag.

But Main Street investors don’t have to see their investment and retirement accounts decimated for the second time in five years.

Wiedemer’s video interview also contains a comprehensive blueprint for economic survival that’s really commanding global attention.

Now viewed over 40 million times, it was initially screened for a relatively small, private audience. But the overwhelming amount of feedback from viewers who felt the interview should be widely publicized came with consequences, as various online networks repeatedly shut it down and affiliates refused to house the content.

“People were sitting up and taking notice, and they begged us to make the interview public so they could easily share it,” said Newsmax Financial Publisher Aaron DeHoog.

“Our real concern,” DeHoog added, “is the effect even if only half of Wiedemer’s predictions come true.

“That’s a scary thought for sure. But we want the average American to be prepared, and that is why we will continue to push this video to as many outlets as we can. We want the word to spread.”


http://w3.newsmax.com/a/aftershockb/video47b.cfm?promo_code=110D8-1#ooid=81c242NjrvGhU0mYWufhAYFCiOPx-szk

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