10 Big Companies That Pay No Taxes (and Their Favorite Politicians) | Mother Jones
Between 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 CommunicationsProfits: $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.): $15,000
General 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.): $19,750


BoeingProfits: $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): $20,986
NextEra Energy: North America’s largest solar and wind power operator, based in FloridaProfits: $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): $2,000Rep. Tom Rooney (R-Fla.): $2,000
American Electric Power: Electric utility based in Columbus, OhioProfits: $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): $18,450
Pacific Gas & Electric: California electrical utilityProfits: $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.): $3,500
Apache: Houston-based oil and gas companyProfits: $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.): $2,500
Consolidated Edison: New York energy companyProfits: $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.): $1,500
El Paso: Houston-based energy company that operates the country’s largest natural gas pipelineProfits: $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.): $2,500
CenterPoint Energy: Electric and gas utility company based in HoustonProfits: $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): $4,000
Giving data from the Center for Responsive Politics. Includes all 2011-12 campaign donations from each company’s employees and corporate PACs.
(Photo Credit: JD Hancock/Flickr)

10 Big Companies That Pay No Taxes (and Their Favorite Politicians) | Mother Jones

Between 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, 2011-2012
President Barack Obama: $51,493
Sen. Robert Menendez (D-N.J.): $24,450
Sen. Mitch McConnell (R-Ky.): $23,700
Rep. John Boehner (R-Ohio): $22,500
Sen. Kirsten Gillibrand (D-N.Y.): $15,000

General Electric 
Profits: $19.6 billion    Effective tax rate: -18.9%

Top recipients, 2011-2012
Mitt Romney: $53,750
President Barack Obama (D): $30,493
Sen. Scott Brown (R-Mass.): $23,900
Rep. Howard Berman (D-Calif.): $21,860
Rep. Chris Murphy (D-Conn.): $19,750

Boeing
Profits: $14.8 billion    Effective tax rate: -5.5%
Top recipients, 2011-2012
Rep. Buck McKeon (R-Calif.): $31,750
Rep. Adam Smith (D-Wash.): $25,000
Former Sen. George Allen (R-Va.): $23,500
Sen. Maria Cantwell (D-Wash.): $23,125
Rep. Ron Paul (R-Texas): $20,986

NextEra Energy: North America’s largest solar and wind power operator, based in Florida
Profits: $8.8 billion    Effective tax rate: -2%
Top recipients, 2011-2012
George LeMieux (R-Fla.): $9,500
Mike Haridopolos (R-Fla.): $4,800
Sen. Maria Cantwell (D-Wash.): $2,000
Rep. Ron Paul (R-Texas): $2,000
Rep. Tom Rooney (R-Fla.): $2,000

American Electric Power: Electric utility based in Columbus, Ohio
Profits: $8.2 billion    Effective tax rate: -6.4%
Top recipients, 2011-2012
Rep. John Boehner (R-Ohio): $34,750
Rep. Steve Stivers (R-Ohio): $34,050
Rep. Bob Gibbs (R-Ohio): $21,700
Sen. Joe Manchin (D-W. Va.): $19,750
Sen. Sherrod Brown (D-Ohio): $18,450

Pacific Gas & Electric: California electrical utility
Profits: $6 billion    Effective tax rate: -8.4%
Top recipients, 2011-2012
President Barack Obama (D): $6,250
Rep. Jim Costa (D-Calif.): $5,000
Rep. Kevin McCarthy (R-Calif.): $5,500
Rep. Fred Upton (R-Mich.): $5,000
Rep. Jeff Denham (R-Calif.): $3,500

Apache: Houston-based oil and gas company
Profits: $6 billion    Effective tax rate: -0.3%
Top recipients, 2011-2012
David Dewhurst (R-Texas): $25,000
Rep. Connie Mack (R-Fla.): $5,000
Rep. Bill Cassidy (R-La.): $2,500 
Rep. Mike Conaway (R-Texas): $2,500
Rep. Gene Green (D-Texas): $2,500
Sen. Mitch McConnell (R-Ky.): $2,500
Brendan Doherty (R-R.I.): $2,500

Consolidated Edison: New York energy company
Profits: $5.9 billion    Effective tax rate: -1.3%
Top recipients, 2011-2012
Sen. Maria Cantwell (D-Wash.): $15,050
Sen. Kirsten Gillibrand (D-N.Y.): $8,000
Rep. Edolphus Towns (D-N.Y.): $6,650
Then-Rep. David Wu (D-Ore.): $2,500
Rep. Joseph Crowley (D-N.Y.): $1,500
Sen. Harry Reid (D-Nev.): $1,500
Rep. Jose Serrano (D-N.Y.): $1,500

El 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, 2011-2012
David Dewhurst (R-Texas): $7,500
Mitt Romney (R): $5,000
Rep. John Barrow (D-Ga.): $3,000
Rep. Diane Black (R-Tenn.): $2,750
Sen. 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): $2,500
Rep. Fred Upton (R-Mich.): $2,500
Sen. Roger Wicker (R-Miss.): $2,500

CenterPoint Energy: Electric and gas utility company based in Houston
Profits: $3.1 billion    Effective tax rate: -11.3%
Top recipients, 2011-2012
David Dewhurst (R-Texas): $22,050
Gov. Rick Perry (R-Texas): $13,458
Sen. Mitch McConnell (R-Ky.): $10,299
Rep. Greg Walden (R-Ore.): $7,000
Rep. Kevin Brady (R-Texas): $4,000

Giving data from the Center for Responsive Politics. Includes all 2011-12 campaign donations from each company’s employees and corporate PACs.

(Photo Credit: JD Hancock/Flickr)

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