To: koan who wrote (48299 ) 7/9/2013 8:09:35 PM From: Broken_Clock Read Replies (1) | Respond to Published on Monday, July 8, 2013 by Common Dreams Paul Buchheit 1. Just 32 companies avoided enough in 2012 taxes to pay the ENTIRE 2013 federal education budget. protested , "We shouldn't be criticized for using Chinese workers. The U.S. has stopped producing people with the skills we need." His comment was somewhat accurate. Half of the companies surveyed by The Chronicle said they couldn't find qualified graduates for positions within their organizations.Pay Up Now analysis of SEC tax filings found that the total 2012 income taxes (federal and foreign) of thirty-two large companies amounted to just 17% of pre-tax worldwide income. The result was the same in 2011. The figures are consistent with a recent analysis of 2010 data by the Government Accountability Office .budget for 2013. Apple Corp., the biggest offender by far, avoided more than the combined National Science Foundation and Small Business Administration budgets .2. Bank of America: 82% of Revenue in U.S., $7 billion loss. (But big foreign profits.) 2011-12 revenue in the U.S., declared $7 billion in U.S. losses and $10 billion in foreign profits.Citigroup is close behind. With 42% of its 2011-12 revenue in North America (almost all U.S.), it declared a $5 billion U.S. loss and a $27 billion foreign profit.Pfizer , which had 40% of its 2011-12 revenues in the U.S., but declared almost $7 billion in U.S. losses to go along with $31 billion in foreign profits. After the SEC questioned Pfizer in 2012 about four straight years of U.S. losses despite large worldwide incomes, the company responded by declaring a fifth straight U.S. loss.3. Relative to workers' payroll tax, corporate taxes have dropped from $1.00 to 7 cents. dollar for every 33 cents paid by workers. In 2011, the corporate contribution was about 7 cents for every 33 cents paid by workers.Urban Institute figures should help them reconsider. The typical two-earner couple making average wages throughout their lifetimes will receive less in Social Security benefits than they paid in. Same for single males. Almost the same for single females.4. Sales tax on school supplies: 10%. Sales tax on $1,000,000,000,000,000 of financial securities: ZERO. $708 trillion to $1.2 quadrillion to $3 quadrillion to a gazillion. This money is a largely speculative and unproductive figment of the financial fantasy world. But speculative financial activity is so inflationary that the world's total wealth, according to the authors of the Global Wealth Report , has doubled in ten years, from $113 trillion to $223 trillion, and is expected to reach $330 trillion by 2017.fee is charged to cover SEC expenses.
