http://www.commondreams.org/view/2013/06/29
Published on Saturday, June 29, 2013 by Campaign for America's Future
“Believe It or Not!”13 Mindblowing Facts About America’s Tax-Dodging Corporations
by Richard Eskow
1. We’re told we can’t “afford” full Social Security benefits, even though closing corporate tax-haven loopholes would pay for Obama’s “chained CPI” benefit cut more than ten times over!
Abusive offshore tax havens cost the US $150 billion in lost tax revenue every year (via FACT Coalition). That’s $1.5 trillion over the next ten years.
The “chained CPI” cut, proposed by President Obama and supported by Republicans, is projected to “save” a total of $122 billion to $130 billion over the same time period by denying benefits to seniors and disabled people.
It’s true. “Serious” politicians and pundits are demanding that ordinary people sacrifice earned benefits, while at the same time allowing corporations to avoid more than ten times as much in taxes.
So how can there be any question about where President Mellifluous stands or who's side he's on?
2. Corporate tax rates are near their 60-year low, even though profits are at a 60-year high!
3. Wells Fargo got $8 billion in tax breaks, even as executives at its subsidiary Wachovia avoided indictment for laundering money for the Mexican drug cartels!
... And yet no criminal indictments were handed down because, as a Senate investigator told Bloomberg News, “”There’s no capacity to regulate or punish them because they’re too big to be threatened with failure.”
...
9. Big corporations paid $216 million to Congress and got $223 billion in tax breaks!
... more at link - not anything we haven't known before, but a nice short format, sort of a quick cheat sheet on perfidies.
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