Hey Verizon, Bernie Sanders is right

[Omaha Steve]

http://standuptoverizon.com/taxes/




Verizon has attacked* presidential candidate Bernie Sanders for misrepresenting its record of paying federal taxes. But Bernie’s right, they’re wrong.



Here are the facts:

Bernie is correct that from 2008 to 2013 Verizon utilized tax code trickery to manage an effective federal tax rate of negative 2.5%, despite $42.5 billion in profits. It actually got money back from the Government.

Verizon did pay federal taxes the last two years — on $27.5 billion in profits — but its federal tax rate was 20%, less than its typical employee pays.

Over the last 15 years, despite $121.3 billion in profits, Verizon’s tax manipulations enabled them to pay federal taxes at the rate of 12.4%, far less than a typical worker.

And on top of all that, Verizon is currently trying to slash the health, job and retirement security of its East Coast workers — despite $39 billion in profits over the last three years.

And Verizon doesn’t just evade taxes in the US. In 2009, Verizon converted $1 billion of equity into debt, using a Dutch subsidiary, and escaped virtually its entire European tax burden.

Click here to download the fact sheet: http://standuptoverizon.com/wp-content/uploads/2016/03/VerizonTaxesFactSheet.pdf



Source: Citizens for Tax Justice: http://ctj.org/corporatetaxdodgers/tax-dodgers.php?id=273

* http://www.verizon.com/about/news/us-senator-bernie-sanders-needs-new-playbook-when-it-comes-verizon-and-taxes

[rhett o rick]

1. When the wealthy don't pay their share, we in the 99% have to make up the difference in safety

net costs, infrastructure costs and the Defense budget costs. Sanders supports the working class, while Clinton supports the owners class.