Thursday, July 19, 2012
Illegal Immigrants taking your job?.Try General Eletric Instead
1.Exxon Mobil's 2009 profits totaled $19 billion, yet according to its SEC filings, the company received a $156 million rebate from the IRS plus it didn't pay any federal taxes.
2.Bank of America made $4.4 billion in profits last year. This was after it received a $1 trillion BAILOUT from the Federal Reserve and the Treasury Department, and a $1.9 billion tax refund from the IRS.
3.General Electric has made $26 billion in profits in the United States over the past five years. It's also received a $4.1 billion tax refund from the IRS. GE has cut a fifth of its American jobs in the past nine years, and is boosting jobs overseas -- where tax rates are lower. And where it can continue evading U.S. taxes.
4.Chevron's IRS refund last year totaled $19 million but it's 2009 profits came to a whopping $10 billion.
5.Boeing received a $30 billion contract from the Pentagon to build 179 airborne tankers. It also received a $124 million refund from the IRS.
6.Valero Energy made $68 billion in sales and received a $157 million tax refund check from the IRS. Over the past three years, it has received a $134 million tax break thanks to the oil and gas manufacturing tax reduction.
7.Goldman Sachs paid 1.1% of its 2009 income in taxes. Yet it made a profit of $2.3 billion. And guess how much it received from the Federal Reserve and U.S. Treasury Department? $800 billion.
8.Citigroup profits last year totaled more than $4 billion. But it paid zero dollars in federal income tax, and received a $2.5 trillion bailout from the Federal Reserve and U.S. Treasury.
9.ConocoPhillips profits from 2007 through 2009 totaled $16 billion. But it was still awarded $461 million in tax arrears because of the oil and gas manufacturing deduction.
10.Carnival Cruise Lines is apparently getting pretty good business. Its profits over the past five years totaled more than $1.1 billion. It's federal income tax rate, however, came to just 1.1%.