New Report Shows 26 Fortune 500 Businesses Paid Negative Tax Rate From 2008-2011

By: Monday April 9, 2012 11:01 am

Last year, the watchdog group Citizens for Tax Justice put out a paper showing that 30 Fortune 500 companies had a negative tax rate for the cumulative years 2008-2010. The corporations singled out by the report submitted a number of excuses to explain away what they claimed was an anomaly, owing to things like short-term [...]

Report: 25 CEOs Made More than Their Company Paid in Taxes

By: Wednesday August 31, 2011 6:52 am

A report by the Institute for Policy Studies on high CEO pay and the low effective corporate tax rate is really just an amalgam of two pieces of data we already knew about. But it’s getting a lot of media attention because it presents the data in a new and interesting way. According to the [...]

Obama Jobs Council Chair Immelt: Give Corporations a Big Tax Break to Create Jobs!

By: Tuesday July 12, 2011 9:35 am

You may remember that the President said yesterday that getting the deficit “off the table” (as if that is ever a possibility) will allow the Administration to renew their focus on job creation, which voters agree is the most important issue facing the country. The President is more circumspect when addressing what “focusing on job [...]

US Debt Ratio Similar to Private Companies Like GE

By: Thursday April 21, 2011 1:14 pm

This is an impeccably good point from J.W. Mason. It’s true that federal debt held by the public has reached 60 percent of GDP, while tax revenues remain around 20 percent of GDP. 60 percent of GDP is a lot! And double, nearly triple, tax revenue! What would we call a company with outstanding debt [...]

Rhetorical Questions for Jeff Gerth and Allan Sloan on Their GE Tax Story

By: Tuesday April 5, 2011 10:02 am

Jeff Gerth and Allan Sloan followed up on the devastating New York Times piece on GE’s tax-dodging, and they believe they’ve set the record straight. Did GE get a $3.2 billion tax refund? No. Did GE pay U.S. income taxes in 2010? Yes, it paid estimated taxes for 2010, and also made payments for previous [...]

Feingold’s Progressives United Goes After Jeffrey Immelt

By: Wednesday March 30, 2011 11:43 am

Progressives United is a very new formulation for former Senator Russ Feingold. With all the tumult in his backyard over Scott Walker and the unions, it was natural that would be an early focus. But I think it’s interesting that he went here for his first campaign outside that. General Electric, America’s largest corporation, made [...]

GE Pays No Taxes, Wants Workers to Accept Cuts

By: Monday March 28, 2011 1:36 pm

Mike Elk has a nice companion piece to the New York Times story on General Electric paying no taxes after making $14 billion in profits, and in fact getting $3 billion in returns from the government. At the same time that the corporation isn’t giving one penny to the government for use of the commons, [...]

Corporations Pushing for Tax Break Pay Little in Taxes

By: Friday March 25, 2011 9:20 am

You may not have heard about “Win America,” because you’re not the target audience. This is a coalition of multinational corporations who want the federal government to enact another tax holiday for overseas corporate profits. This would allow these corporations to bring back money they illegally stashed in tax shelters overseas at a fraction of [...]

GE’s Immelt: “The richest people made the most mistakes with the least accountability”

By: Thursday December 10, 2009 6:45 am

In a remarkable speech, Jeffrey Immelt, the CEO of General Electric, gave the opposite of a Gordon Gekko speech yesterday at West Point, saying that the era of “greed and meanness” has come to an end in America. “We are at the end of a difficult generation of business leadership, and maybe leadership in general. [...]

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