Tax Fairness: Big Ones that Get Away
Tax Fairness: Big Ones that Get Away

If corporations are now considered people, there are some very wealthy people getting away without paying taxes. The golden rule: Those with the gold make the rules… or tax breaks.

If you thought the corporate tax rate was 35%, then consider the following tax scofflaws:

  1. General Electric: Over the past 5 years, GE made $26 billion in profits in the U.S., but received a $4.1 billion refund from the IRS.
  2. Exxon Mobil: In 2009, they made $19 billion in profits and not only avoided paying any federal income tax, but they actually received a $156 million from the IRS.
  3. Bank of America: After receiving a bailout from the U.S. Treasury, BofA made a $4.4 billion, paid no taxes, and received a $1.9 billion refund.

Even more astounding is the fact that 26 U.S. companies paid their CEOs an average of $20.4 million each last year, and paid little to no tax on an average of $1 billion in profits. One example is James McNerney Jr., the CEO of Boeing. He was paid $18.4 million, while Boeing paid nothing in taxes and received a refund of $605 million.

Our firm has been handling personal injury cases throughout the California Low Desert and High Desert communities for over 30 years. With a 95% success rate, the California personal injury attorneys at Walter Clark Legal Group will fight to hold those responsible for your loss accountable and win compensation to cover medical bills, lost wages, and pain and suffering. If you have been injured and want to discuss your legal options, contact us today for a free consultation with an experienced personal injury lawyer. We have offices in Indio, Rancho Mirage, Victorville, and Yucca Valley and represent clients through the entire California Low Desert and High Desert communities.

DISCLAIMER: The Walter Clark Legal Group blog is intended for general information purposes only and is not intended as legal or medical advice. References to laws are based on general legal practices and vary by location. Information reported comes from secondary news sources. We do handle these types of cases, but whether or not the individuals and/or loved ones involved in these accidents choose to be represented by a law firm is a personal choice we respect. Should you find any of the information incorrect, we welcome you to contact us with corrections.

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