U.S. Taxpayers Subsidizing Profitable Corporations

The Party of No is campaigning to eliminate Social Security and the home mortgage deduction which will devastate the American middle class, while profitable corporations get subsidies.

Go figure! Who voted for these people?

Corporations At Tax Time: Who's Good And Who's Bad
(And Who's Really Ugly)

By Paul Buchheit

http://www.countercurrents.org/buchheit310311.htm

Boeing and DuPont and Dow Chemical and Verizon all made profits three
years in a row, but all received net refunds for the three-year period.
The ugliest result comes from General Electric, which made pre-tax profits
of $44 billion over three years but received almost $5 billion in refunds!
So ugly, indeed, that the company buried its tax benefit (refund) strategy
in a nondescript passage near the end of its 10-K.

The big picture:

The top 100 companies, with $5 trillion in 2010 revenue and $500 billion
in pre-tax earnings, paid less than 10% last year in non-deferred federal
taxes. If these 100 companies had paid the 35% tax designated by U.S. tax
law, an additional $140 billion would have been collected in federal taxes
in just one year. This is approximately equal to the total budget deficits
for all 50 states.