"pay their fair share" is a socialist/communist slogan.
Avoiding taxes is a standard practice for Big Corporate America. The IRS’ own records show that many corporations ‘cook the books” by using foreign tax shelters and using questionable tactics. A Times article discovered that “corporate giant GE is not only avoiding corporate income taxes this year, bus is taking a ‘tax benefit of $3 billion.” The times also reported that “the company's “extraordinary success is based on an aggressive strategy that mixes fierce lobbying for tax breaks and innovative accounting that enables it to concentrate its profits offshore.”
CEO: Eric Schmidt; Net worth $6.3 billion
2010 Pre-tax Profit: $10.8 billion
According to a MSNBC report, Google reports income in overseas tax havens and then reports its costs here at home there by saving billions in taxes.
- News Corp
CEO: Rupert Murdoch; 117th richest person in the world
2010 Pre-tax Profit: $3.3 billion
In 2008, the Government Accountability Office issued an analysis concluding that one of the companies with the greatest number of subsidiaries in offshore tax-havens was News Corp.
CEO: W. James McNerney; Annual income $10+ million a year.
2010 Pre-tax Profit: $4.5 billion
According to a MSNBC report, Boeing due to foreign tax havens only paid 0.3 percent of its pre-tax income
- Altria (Philip Morris)
CEO: Michael Szymanczyk; earns $6.35 million a year
2010 Pre-tax Profit: $5.7 billion
“Between 2001 and 2003, the cigarette maker took advantage of $3.3 billion in tax breaks, which effectively cut its taxes by one-third.”
4. Time Warner
CEO: Jeffrey Bewkes; earns $10+ million per year
2010 Pre-tax Profit: $3.9 billion
According to a MSNBC report “The entertainment conglomerate managed some swift accounting to use its merger with AOL in 2000 to leave it with little tax to pay. Between 2001 and 2003, Time Warner claimed tax breaks that cut its taxes by 121 percent—and allowed the company to pay nothing at all in taxes for two years.”
CEO: Steve Ballmer: Worth $14.5 billion
2010 Pre-tax Profit: $25 billion.
According to a recent report “ Microsoft is a master of shifting income through various foreign countries— “to Bermuda via the Netherlands via Ireland” —in order to limit its domestic income subject to taxation. According to the blog MicrosoftTaxDodge, a carefully timed press release threatening to move the company's headquarters out of Washington state resulted in Rep. Ross Hunter, a 17-year former manager at Microsoft, pushing through “two huge gifts [for the company]: a $100 million annual tax cut and an estimated $1.25 billion in amnesty on its 13-year Nevada tax dodge.”
But as the GOP minions like to say “The idea of making them pay their fair share" is a socialist/communist plot. Cheating on your taxes is as American as apple pie. So let these companies spend their billions as they see fit and forget about making pay and taking the burden off the backs of Middle America. That is what Stalin and chairman Mao.