Tax Day: Corporate cuts taxing for workers

While no one likes paying taxes, most of us know it’s our tax dollars that support the schools, roads, and services we all use and depend on. But looking at a few statistics this tax day reveals the responsibility for keeping our public programs and economy on track isn’t shared equally — and the burden has fallen on those who can least afford it.

Middle-income families are taxed at 25 percent of their overall paycheck, compared to the average capital gains tax for the wealthiest, which are taxed at a minimum of 15 percent. Similarly, some of the country’s largest corporations have managed to avoid paying income taxes entirely. Companies like General Electric, which reported $5 billion in U.S. profits, and global energy giant Exxon Mobile, paid zero taxes on their profits last year according to their filings with the U.S. Securities and Exchange Commission. And in Connecticut, Bank of America didn’t pay any state taxes last year.

Any accountant can tell you those numbers just don’t add up. If politicians really want to follow through on their promise to fix the budget, they can start by ending tax breaks to wealthy donors and asking CEOs to pay their fair share.

Instead of targeting workers’ paychecks and cutting services at the expense of seniors, students, and middle-class families, Wall Street needs to do its part to create jobs and bring back the economy. That means paying their fair share on tax day—and turning their profits into opportunity by putting America’s workers back to work.

There are still ways for you to make a difference this tax day. Share this “10 companies who didn’t pay taxes” infographic on Facebook and Twitter or find a Tax Day: Make Them Pay event near you.

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This entry was posted on Monday, April 18th, 2011 at 4:11 pm and is filed under General, Jobs. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

One Response to “Tax Day: Corporate cuts taxing for workers”

  1. jasmith4 says:

    Big Business LOVES to tell you they create jobs, and they do. But they FILL those jobs OVERSEAS, which leaves Americans out of work! Wouldn’t Republicans LIKE turning people who RECEIVE unemployment insurance, welfare, etc., into people who PAY taxes? These hypocrites who bitch and moan about half of us supporting theother half? And why don’t they call that “unpatriotic”??

    Here’s my idea: for every job outsourced overseas, tax the employer TRIPLE the fair-market salary — plus ALL DECENT benefits! — of an American in that job.

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