Wednesday, June 19, 2013

Whose taxes are fair?

Corporations do not all pay the same tax rate, varying significantly. Is that fair? Take a gander at the different tax rates, according to Forbes:

     ExxonMobil                    45
     ConocoPhillips                42
     Chevron                           40
      Goldman Sachs               35.2
     Wells  Fargo                     33
     WalMart                           32.4
      JP Morgan Chase             30.1
      Berkshire Hathaway          29
      Intel                                   28.6
      P &G                                  28.3
     Microsoft                            25
     IBM                                    24.8  
     Apple                                  24
     Johnson & Johnson              21.3
     Google                                 21
     Hewlett Packard                   20.2

Did you notice that GE is not on that list?  Some sources report that GE did not pay any taxes in 2010 and now we learn that GE paid only a rate of 1.8 for the past decade.


Being loved by the top dog sure makes a difference in how you are treated, whether a corporation or a member of the Tea Party or another Conservative group.

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