Verizon paid less tax than they charged YOU last year

Although Verizon paid less in income taxes than its average customer paid in phone bills, the company broke no laws. America’s corporations spend hundreds of millions of dollars a year on lobbying, and they get a good return on their investments. They get tax loopholes — and plenty of them. Last year, Verizon shelled out $16.8 million to lobby federal lawmakers and another $18.7 million on contributions into the campaign accounts of their favorite federal politicians.

Obviously Verizon needs to charge customers MORE … so they can pay some corporate tax.

Read more on Consumerist.

I know that the USA cannot tax itself to fiscal balance. But it’s stupid to perpetuate a system where “25 out of the country’s 100 highest-paid chief executives actually earned more in 2010 than their companies paid out in corporate income taxes”.

Corporations and rich individuals should actually pay more tax.

3 thoughts on “Verizon paid less tax than they charged YOU last year

  1. danabrass's avatar danabrass

    But far too many Americans support this Republican mentality. They have been frightened into believing that all taxation is evil and that taxation = communism. Most Republican supporters don’t earn enough money to actually benefit from their ideology. But, psst, don’t tell them that, might hurt their feelings.

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