fyi..TM7. 10 Big Companies That Pay No Taxes (and Their Favorite Politicians) —By
Gavin Aronsen| Fri Apr. 13, 2012 3:00 AM PDT
JD Hancock/FlickrBetween 2008 and 2011, 26 major American corporations paid no net federal income taxes despite bringing in billions in profits, according to
a new report (PDF) from the nonprofit research group Citizens for Tax Justice. CTJ calculates that if the companies had paid the full 35 percent corporate tax rate, they would have put more than $78 billion into government coffers.
Here's a look at the 10 most profitable tax evaders and the politicians their CEOs, employees, and PACs give the most money to.
Verizon Communications
Profits: $19.8 billion Effective tax rate: -3.8%Top recipients, 2011-2012President Barack Obama:
$51,493Sen. Robert Menendez (D-N.J.):
$24,450Sen. Mitch McConnell (R-Ky.):
$23,700Rep. John Boehner (R-Ohio):
$22,500Sen. Kirsten Gillibrand (D-N.Y.):
$15,000General Electric
Profits: $19.6 billion Effective tax rate: -18.9%Top recipients, 2011-2012Mitt Romney:
$53,750President Barack Obama (D):
$30,493Sen. Scott Brown (R-Mass.):
$23,900Rep. Howard Berman (D-Calif.):
$21,860Rep. Chris Murphy (D-Conn.):
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Advertise on MotherJones.comBoeing
Profits: $14.8 billion Effective tax rate: -5.5%Top recipients, 2011-2012Rep. Buck McKeon (R-Calif.):
$31,750Rep. Adam Smith (D-Wash.):
$25,000Former Sen. George Allen (R-Va.):
$23,500Sen. Maria Cantwell (D-Wash.):
$23,125Rep. Ron Paul (R-Texas):
$20,986NextEra Energy: North America's largest solar and wind power operator, based in Florida
Profits: $8.8 billion Effective tax rate: -2%Top recipients, 2011-2012George LeMieux (R-Fla.):
$9,500Mike Haridopolos (R-Fla.):
$4,800Sen. Maria Cantwell (D-Wash.):
$2,000Rep. Ron Paul (R-Texas):
$2,000
Rep. Tom Rooney (R-Fla.):
$2,000American Electric Power: Electric utility based in Columbus, Ohio
Profits: $8.2 billion Effective tax rate: -6.4%Top recipients, 2011-2012Rep. John Boehner (R-Ohio):
$34,750Rep. Steve Stivers (R-Ohio):
$34,050Rep. Bob Gibbs (R-Ohio):
$21,700Sen. Joe Manchin (D-W. Va.):
$19,750Sen. Sherrod Brown (D-Ohio):
$18,450Pacific Gas & Electric: California electrical utility
Profits: $6 billion Effective tax rate: -8.4%Top recipients, 2011-2012President Barack Obama (D):
$6,250Rep. Jim Costa (D-Calif.):
$5,000Rep. Kevin McCarthy (R-Calif.):
$5,500Rep. Fred Upton (R-Mich.):
$5,000Rep. Jeff Denham (R-Calif.):
$3,500Apache: Houston-based oil and gas company
Profits: $6 billion Effective tax rate: -0.3%Top recipients, 2011-2012David Dewhurst (R-Texas):
$25,000Rep. Connie Mack (R-Fla.):
$5,000Rep. Bill Cassidy (R-La.):
$2,500 Rep. Mike Conaway (R-Texas):
$2,500Rep. Gene Green (D-Texas):
$2,500Sen. Mitch McConnell (R-Ky.):
$2,500Brendan Doherty (R-R.I.):
$2,500Consolidated Edison: New York energy company
Profits: $5.9 billion Effective tax rate: -1.3%Top recipients, 2011-2012Sen. Maria Cantwell (D-Wash.):
$15,050Sen. Kirsten Gillibrand (D-N.Y.):
$8,000Rep. Edolphus Towns (D-N.Y.):
$6,650Then-Rep. David Wu (D-Ore.):
$2,500Rep. Joseph Crowley (D-N.Y.):
$1,500Sen. Harry Reid (D-Nev.):
$1,500Rep. Jose Serrano (D-N.Y.):
$1,500El Paso: Houston-based energy company that operates the country's largest natural gas pipeline
Profits: $4.6 billion Effective tax rate: -0.9%Top recipients, 2011-2012David Dewhurst (R-Texas):
$7,500Mitt Romney (R):
$5,000Rep. John Barrow (D-Ga.):
$3,000Rep. Diane Black (R-Tenn.):
$2,750Sen. John Barrasso (R-Wyo.):
$2,500 Sen. Max Baucus (D-Mont.):
$2,500 Sen. Mitch McConnell (R-Ky.):
$2,500 Gov. Rick Perry (R-Texas):
$2,500Rep. Fred Upton (R-Mich.):
$2,500Sen. Roger Wicker (R-Miss.):
$2,500CenterPoint Energy: Electric and gas utility company based in Houston
Profits: $3.1 billion Effective tax rate: -11.3%
Top recipients, 2011-2012David Dewhurst (R-Texas):
$22,050Gov. Rick Perry (R-Texas):
$13,458Sen. Mitch McConnell (R-Ky.):
$10,299Rep. Greg Walden (R-Ore.):
$7,000Rep. Kevin Brady (R-Texas):
$4,000Giving data from the Center for Responsive Politics. Includes all 2011-12 campaign donations from each company's employees and corporate PACs.
