Between 2006 and 2012 many companies paid no federal income tax, GAO study shows.

[pantsonfire]

Nearly half of the corporations with assets of at least $10 million did not pay federal income taxes in 2012, according to study requested by Sen. Bernie Sanders released Wednesday.

Two-thirds of all active U.S. corporations did not have to pay federal income tax during the years 2006 to 2012, according to a new study published by the Government Accountability Office, which Independent Sen. Bernie Sanders of Vermont requested to examine corporate tax loopholes.

Larger corporations with assets of at least $10 million were more likely to owe federal incomes taxes, but 42 percent of such companies still did not pay federal income tax in 2012, according to the government study published Wednesday that cites the most recent data available. Corporations that did have a federal income tax liability for 2012 owed $267.5 billion.

http://www.usnews.com/news/articles/2016-04-14/bernie-sanders-outraged-by-gao-study-that-finds-many-companies-paid-no-income-tax

[Broward]

1. Corporate whores in Congress (from both sides of the aisle) facilitated this outcome.

[pantsonfire]

2. whores being non-gender specific........n/t

[Broward]

3. Of course, that goes without saying.

[nc4bo]

5. +1! nt

[nc4bo]

4. Perfect example of this country's grifting, welfare class. This has gotta change. nt

[azmom]

6. kick

[Prism]

7. Where are they donating?

I trust not to that powerful figure who wants them to cut it out!

[highprincipleswork]

8. Exactly as Bernie, and nobody else, has been saying. There used to be a folk song for this.

[NCjack]

9. Only suckers (inc. me) pay taxes. /nt

[BernieforPres2016]

10. Good job on the release of this study requested by Bernie

I'm guessing we will hear it mentioned in the debate tonight.

The next study should go beyond federal income tax to state income taxes. A story I read on GE yesterday said that not only do they pay no federal income taxes most years, but they are very skillful at evading virtually all state taxes. And they're masters at pulling in freebies from the taxpayers, like TARP money, the U.S. government backing up almost $200 billion of GE commercial paper during the financial crisis and an enormous package (total value $180,000 per job) from the state of Massachusetts when they relocated their corporate headquarters from Connecticut last year.

The taxpayers of the state of Massachusetts even paid for the relocation expense of GE CEO Jeff Immelt, whose total compensation package in 2014 was roughly $35 million.

[pantsonfire]

11. I hope it does and I hope he releases his own tax returns...

...so he can turn to Clinton and ask, "What about those transcripts?"

[nc4bo]

12. Goalposts were moved 1000 yards downfield. She'll only release the beast when everyone

Else does and I believe that also includes the Republican candidates. So no, I don't think it's gonna happen.

[pantsonfire]

13. Right but if he does release his taxes and she sticks to that...it'll make her look worse. n/t

[BernieforPres2016]

14. Yes, in the NY Daily News interview she said she "had reason to believe" Trump had made speeches

to Wall Street for "much more than they paid me", and said she wouldn't release her transcripts until he released his. She said she was looking beyond this race to the general election.

She will never cough up those transcripts. They will have to be leaked from outside her campaign.