“There will come a day when my moral choices will no longer be beholden to the shareholders, and a wave of profound regret and sorrow will engulf me as I realize with painful clarity the enormity of the damage I have perpetrated upon humanity. And even if I plead with whoever has succeeded my role in the company, to stop putting CO2 in the air for the sake of my daughter’s grandchildren, he or she can turn to me and simply respond with ‘Fuck you’. And that legacy really does make me proud.”
The Article: You Pay Higher Taxes Than Boeing (and GE, Verizon & 23 More U.S. Corporations) by Brandy Zadrozny in The Daily Beast.
The Text: You may be among the 95 percent of Americans who believe it’s their civic duty to pay their fair share of taxes, but sending a portion of your salary to the IRS still smarts. Even for the more than 100 million who will receive refunds, no day is more agonizing than April 15.
If only we could all be corporations. Although they all start with a flat 35 percent federal tax rate, most employ a team of clever accountants to whittle down their liability—sometimes to nothing at all.
After taking advantage of credits, exemptions, and offshore tax havens, U.S. corporations get away with paying an average of less than 13 percent, according to the Government Accountability Office. What’s more, the GAO found that more than half of them reported owing no federal taxes in at least one year between 1998 and 2005.