Forget Wall Street, Occupy Corporate Boardrooms

JONATHAN TURLEY

Submitted by: Mike Spindell, guest blogger

Sometimes a story comes around that writes itself and merely needs highlighting of certain facts to make its points. This link below will provide concrete data on why this country has become a corrupted corporatist state, along with why the federal budget deficit is so high. Its title is “For Hire: Lobbyists or the 99%? How Corporations Pay More for Lobbyists Than in Taxes”

http://publicampaign.org/sites/default/files/ReportTaxDodgerLobbyingDec6.pdf

What this document clearly shows, with highly readable charts is that 30 of the top US Corporations not only pay more for lobbying than in taxes, but in fact that they receive huge tax credits, although being highly profitable. Over a three year period 2008-2010 these companies had combined profits of $163.691 billion, received tax credits of $10.602 billion and spent $475.67 million on lobbying. Only one of these companies, FedEx, actually paid taxes. They paid $37 million…

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