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4 Bumps

What do you think the following profitable corporations paid in actual total federal income taxes in that period: American Electric Power, Boeing, Dupont, Exxon Mobil, FedEx, General Electric, Honeywell, International, IBM, United Technologies, Verizon Communications, Wells Fargo, and Yahoo?


June 7, 2011Contact: Anne Singer Communications Director(202) 299-1066 x27
Another Decade of Bush Tax Cuts Will Cost More than Twice as Much as the First Decade
$5.5 Trillion Cost Over 2013-2022 Period If Extended Another Decade
Ten years ago, June 7, 2011, President George W. Bush signed into law the first of several taxcuts that would define his presidency and turn the budget surpluses achieved under President Clinton into budget deficits.CTJ and others have noted that the cost of the Bush tax cuts from 2001 through 2010 was about two and a half trillion dollars.
1
The recent “compromise” that extended them for another two years, throughthe end of 2012, cost $571.5 billion.
2
But this is only the beginning. If Congress makes permanent the Bush tax cuts or extends them foranother decade, the cost will be $5.5 trillion.



http://www.ctj.org/

Answer Question
 
Anonymous

Asked by Anonymous at 11:53 AM on Jul. 12, 2011 in Politics & Current Events

Answers (39)
  • I'm guessing.......a big fat ZERO!?
    butterflyblue19

    Answer by butterflyblue19 at 11:55 AM on Jul. 12, 2011

  • Probably nothing.
    meooma

    Answer by meooma at 11:56 AM on Jul. 12, 2011

  • BBF = Blame Bush First.

    QuinnMae

    Answer by QuinnMae at 11:57 AM on Jul. 12, 2011

  • Relax the sensitivity QM and try this test:

    If you paid a single dollar in federal income tax in any of the years 2008, 2009 and 2010, you paid more than the giant General Electric (GE) company. In that period GE made $7.722 billion in U.S. profit, paid no taxes and received $4.737 billion from the IRS. As the New York Times reported on March 24, teams of GE tax lawyers and accountants are making sure they avoid taxes altogether, shifting the burden to you.
    Anonymous

    Comment by Anonymous (original poster) at 12:09 PM on Jul. 12, 2011

  • I don't know.
    pookiekins34

    Answer by pookiekins34 at 12:11 PM on Jul. 12, 2011

  • They paid nothing and those loopholes that allow this need to be closed. I'm not sensitive. Your post only mentions Bush. The fact that Obama signed an extension of these cuts now makes it his baby. They are equally responsible.  Sad part is that when / if the loopholes are closed and these corps have to pay federal taxes, who do you think will end up paying it in the end?  We do through inflation.  They raise the price of goods to cover the cost of taxation.  Consumers lose no matter what happens.

    QuinnMae

    Answer by QuinnMae at 12:14 PM on Jul. 12, 2011

  • QM I believe the price of goods are the highest they've ever been now because of the taxcuts.

    "President Obama offered up another Democratic sacred cow in Monday's debt talks, but Republicans still wouldn't budge from their anti-tax stance. According to The Washington Post, Obama threw an offer to raise the Medicare eligibility age on top of previous offers to slash Social Security and Medicare benefits. Still, Republicans continued to reject his $4 trillion deal in favor of a $2.4 trillion deal that would not raise taxes on the richest Americans."
    Anonymous

    Comment by Anonymous (original poster) at 12:24 PM on Jul. 12, 2011

  • Republicans have been screaming at Obama begging him to save the tax cuts. SO, what is this all about now,Repubs???
    minnesotanice

    Answer by minnesotanice at 12:28 PM on Jul. 12, 2011

  • I think price of goods is up right now due to government intervention via quantitative easing (i.e. - printing more money thus making what we have worth less). JMO, I may disagree but I respect your opinion.

    QuinnMae

    Answer by QuinnMae at 12:29 PM on Jul. 12, 2011

  • I think price of goods is up right now due to government intervention via quantitative easing (i.e. - printing more money thus making what we have worth less). JMO, I may disagree but I respect your opinion.


    Answer by QuinnMae a minute ago


    QE doesn't account for record profits corporations are making. It seems to me like it's pretty easy to make a connection between increased profits and increased prices.

    UpSheRises

    Answer by UpSheRises at 12:32 PM on Jul. 12, 2011

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