Billionaire real estate investor and legendary tax evader Leona Helmsley famously said: “Only the little people pay taxes.” It turns out Helmsley was all too right.
Last month’s discovery that GE paid zero in taxes in 2010 has exploded across the news. But GE is not alone. Rainforest Action Network reviewed the top four banks, oil and coal companies in the country, and found that all of them are gaming the system. In fact, Bank of America, Citi, Massey Energy and Chevron have also all paid zero in federal income taxes this year or in year’s past.
From blog: Ran by Becky Tarbotton on 2011-04-14 14:00:00