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| As punk rock icon Johnny Rotten once said: "Ever get the feeling you've been cheated?" |
Talk about timely supporting evidence!
Not that it'll put a smile on your face, but a few days after I wrote "CEOs SUCK (YOUR TAXES)!" (posted Aug. 29), DemocracyNow.org did a story on this very issue.
A new study has found that 25 of the biggest corporations in America paid more to their CEOs in 2010 than they paid the federal government in taxes. Here now, in point form, are some more of the sickening facts from the study/story:
* Corporations often use overseas tax havens and can make billions in profits while paying little, or zero, in taxes
* Companies often actually receive tax rebates
* Among the companies mentioned in the study were Coca-Cola, Verizon, General Electric and eBay
* The study stated that the ratio of CEO pay to that of the average worker in the U.S. has rocketed to 325-to-1
* The study’s co-author, Chuck Collins, (senior scholar at the Institute for Policy Studies as well as the director of its Program on Inequality and the Common Good), said: "What these companies do is they use a variety of tax loopholes, corporate loopholes, to game down their taxes. So, these are what I would call the sort of championS in the tax gymnastics department."
You can watch the DemocracyNow.org report here. It includes some excellent information about how corporations cheat on their taxes!
Take care and keep fighting for a fair go,
Adrian
IF YOU FOUND THIS BLOG POST INTERESTING you might also like to take a look at CEOs SUCK (YOUR TAXES)!
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