Corporate Tax Dodgers

EIAT Paying next to nothing Where's the money going? | What do they cost us? Bank of America. cíti MASS IMEROY WELLS FARGO Despite the fact that corporations are making millions to billions in profits they are paying next to nothing in taxes while the rest of put in our fair share. We know it's not going to taxes that support schools, roads, and health care. So where are bank, oil and coal profits being spent? While some of the dirtiest corporations pay next to nothing in taxes they are certainly paying big sums in CEO compensation and lobby dollars to manipulate our democracy. Financial collapse, foreclosures, asthma, mercury in drinking water, climate change, oil spills – these are just a few of the ways big banks, big oil and king coal cost our country. bp Chevron CO Federal income tax rate CORPORATE TAX Citigroup: 0% Bank of America: 0% JPMorganChase:26.6% WellsFargo: 7.5% Lobbying BANKS:8.51% Homes Нealith Climate Honorable Mention: 35% IS WHAT THEY BP: 0% The US Chamber of Commerce is a front DODGERSon Chere 19 OIL:2.04% BANKS $22.64 ilion The coal and oil industry group for these same corporations - pumping $132 million towards influencing politics last year. While they In 2010 there were 3.8 million Foreclosure filings due to reckless Wall Street banks. Taxpayers footed the bill for $I15 billion in bailout There are 13,000 deaths caused annually by coal-fired power plants due largely to air pollution. Coal costs the American taxpayers $500 billion annually in externalized costs. SHOULD PAY ExxonMobil: 2.3% Shell: 0% in the United States are Alpha Natural Resources: 4.1% Arch Coal Inc: 10% COAL:10.45% $42.97 million mian" responsible for emitting 4.5 billion tons of C02 every year. claim to represent 3 million businesses - Massey Energy: 0% Peabody Energy: 27.7% the bulk of their budget comes from a handful of big corporations - including Big Oil, King Coal, and Wall Street. These two industries are OIL COAL responsible for 80% of CO2 emissions in the United States. funds for these banks - while How big banks, big oil and king coal dodge their faxes, manipulate our democracy and wreak havoc on our health, our climate and our economy. we felt the effects. CEO Compensation $62 billion, the amount these dirty dozen should pay under the corporate tax rate (35%) BANKS:8.51% OIL: 2.04% COAL: 10.45% CORPORATE TAX RATE: 35% Total federal income taxes paid by the dirty dozen: $8.74 billion. Total tax credits recieved by the dirty dozen: $2.71 billion. $38 billion, current proposed federal budget cuts- 0% is the amount of federal income taxes paid by Bank of America, Massey Energy and Chevron. $83.44 million BANKS Revenue If corporations did pay.. Let's take a look at just how much money the banking, oil and coal industries make. Compared to the median income for an average person, we are talking about a serious chunk of change. Our country isn't broke. Far from it. If these dirty dozen actually paid the corporate tax rate of 35% we might not be facing $38 billion in proposed federal budget cuts, which will force teacher layoffs, roll back environmental protections, and cut back health care programs. $58.76 million But they're not alone. Rainforest Action Network reviewed the top four banks, oil, and coal companies in the country, and found that all of them are gaming the system. While the rest of us are paying our fair share in taxes, the dirtiest corporations are not – despite astronomical profits. $69.44 million BANKS: $454.4 billion OIL: $1.26 trillion COAL: $17 billion OIL COAL Pissed off? You should be. Winner of the most egregious bonus award: Massey Energy These corporations are responsible for foreclosing on millions of people's homes, polluting our air and water and squirreling away billions in profits in offshore accounts. It's time we make them pay up. Massey was cited for 4,500 violations of the Clean Water Act last year and was responsible for killing 29 West Virginia miners in the tragic Upper Big Branch disaster. Yet, CEO Don Blankenship walked away with a retirement package valued at $35 million, and his company paid ZERO in taxes. Median American household income: $49,777 ran.org usuncut.org RAINFOREST ACTION NETWORK sources: ran.org/taxdodgersdata JPMorganChase ExonMobil. A Alpha Natural Resources Arch Coal, Inc. Peabody