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

[merrily]

1. Thanks, OS. Bernie Sanders, always on the right side of history.

When the moral arc of the universe is long, but it bends towards justice.

The arc gets a little less long whenever people don't lead from behind (or not at all).

[UglyGreed]

2. Verizon is screwing

union workers left and right..............

[Scuba]

3. Verizon's a sleazy tax dodger? Who knew?

[Jitter65]

4. Nothing like making every industry and corporation in the US an enemy. nt

[sadoldgirl]

6. You think that it is wrong

to ask the corporations to pay their fair share
of taxes?

[ebayfool]

7. I'm all ears.

How would you have him address this without offending the delicate sensibilities of the companies getting a free ride?

[Omaha Steve]

8. 20 Senators Cite Verizon for Failing to Negotiate a Fair Contract

http://www.cwa-union.org/news/bargaining-update-0

March 24, 2016
20 Senators Cite Verizon for Failing to Negotiate a Fair Contract

Twenty U.S. Senators are standing with working families and against Verizon's greed, urging the company to negotiate a fair contract covering 29,000 CWA and IBEW members in Verizon East.

The letter, sent to Verizon CEO Lowell McAdam, stresses that, "it's in the best interests of our constituents that Verizon and its unions reach a fair agreement that supports good jobs and ensures that Verizon can move forward in investing in state-of-the-art broadband buildout for our communities."

The senators also declare that, "the wireless retail workers and technicians who have been at the heart of Verizon's success...that has driven the company's impressive profitability of $39 billion over the last three years" deserve the opportunity for improved wages and benefits.

CWA Vice Presidents Dennis Trainor, District 1, and Ed Mooney, District 2-13, thanked the Senators for standing with Verizon's working families and reiterated that, "a company as profitable as Verizon, that is making billions off our hard work, does not need our concessions. We will do whatever it takes to protect our jobs, our retirement security, our families, and our dignity on the job."

Read the letter here: http://standuptoverizon.com/senatorsletter/?can_id=afa2807b3cfcff60111306b65caad438&source=email-senators-urge-verizon-to-negotiate-a-fair-contract&email_referrer=senators-urge-verizon-to-negotiate-a-fair-contract&email_subject=senators-urge-verizon-to-negotiate-a-fair-contract&link_id=1


Members of CWA Local 2108 in Beltsville, Md., let Washington, D.C. commuters know that "Verizon has labor pains." The call center workers marked the nine months of tough bargaining with pillow-padded bellies, said Local 2108 President Marilyn Irwin.

[RiverLover]

5. If only Verizon were the only ones being anti-American.