Apr 16, 2012
A new study shows that 280 of the most profitable U.S. corporations received nearly 223 billion dollars in tax breaks in the past three years. Seventy-eight of them paid NO taxes in at least one of those three years. And thirty companies actually had a NEGATIVE tax rate in the last three years – the government paid THEM money, instead of the other way around!
One company, Pepco, had a tax rate of negative 57.6%. In other words, the government paid Pepco an additional 57.6% of its profit, ON TOP OF its profit.
Meanwhile, workers are losing their homes and struggling to make ends meet. And even unemployed workers are paying income tax – on their unemployment benefits!
Think of how many people could be put to work with all that money the government is handing to the rich!