Forbes Magazine reported these figures for 2010.
These few figures should clarify the need for tax reform. These refunds are TAX refunds from the Federal Government.
Stanley Black & Decker $183 million refund - The top corporate tax rate is 35%, SBD expected to pay 26-27%.
Ford Motor $69 million refund
Bank of New York Mellon $670 million refund
Verizon $705 million refund
Dow Chemical $576 million refund
Prudential Financial $722 million refund
Ameriprise $224 million refund
Honeywell $471 million refund
General Electric $3.3 billion refund
Allegheny Technologies$ $47 million refund
Mylan Laboratories $73 million refund
Capital One $152 million refund
Marsh & McLennan $90 million refund
Nabors Industries $138 million refund
Qwest Communications $14 million refund
Cablevision $3 million refund
eBay $131 million refund
TOTAL REFUNDS, 17 CORPs $7,568,000,000 (this is BILLIONS)
If these corporations or people donated 20% of their income or profits to help the needy they would have only these amounts to live and survive. I think I could survive on these amounts. I might have to cut back on the frills but I could survive.
Health Ins Profits $10,981,920,000
For-profit Hosp $142,212,080,000
CEO, UHC $4,224,000
CEO, Well Point $7,584,000
CEO, Humana $2,616,000,
CEO, HCA $2,392,000
CEO, McKesson $15,256,000
CEO, Abbot Labs $12,776,000
CEO, Pfizer $6,864,000
CEO, Merck $4,752,000
CEO, Medco Health $6,072,000
CEO, Cardinal $5,352,000
CEO, Walgreens $3,448,000
CEO, CVS $6,528,000
CEO, Walmart $18,520,000
The least income is $2,392,000.00, after a 20%, tax-deductible donation. I don’t know about you, but I could do well on $2+ million a year.
CHARITY IS THE GREATEST VIRTUE
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This is a letter I sent to these people. Take a look at your cable/tv/internet/cell bill. What is the percentage of your income? Shouldn't we have more options and not be stuck with what the corporations choose to offer?
01 February 2014
Mr. Randall L. Stephenson
Chairman and CEO, AT&T, Inc
Mr. Tom Wheeler
Chairman, FCC
Mr. Patrick Murphy
US House of Representatives
Dear Gentlemen:
Re: Profits driving cost and availability of communication services
As a customer of AT&T, I pay $3,600.00 (11% of my annual income) a year for my cellular and u-verse services. If Mr. Stephenson (CEO and Chairman of AT&T) was paying 11% of his annual income, he would be paying $2,860,000.00 a year for his services. Brian Roberts, CEO of Comcast would be paying $1,8876,000 a year.
The communication service providers do not offer services desired by their customers. We are required to accept packages that they develop. In order for me to have HDTV services I must pay for every channel in AT&T’s line-up. I’m paying for over 450 channels, when I only want less than 200. I’m forced to pay for 43 sports channels for which I have no interest.
Since analog television services are no longer available in the USA, every analog TV still in operation requires a cable or satellite receiver. This forces all users of analog televisions to pay for cable or satellite serves. This gives the providers a fairly stable user database.
HDTV Magazine estimates the 68% of the households in the USA have HDTVs, with 32% still have analog TVs in use.
If over 66% of households having HDTV, the cable and satellite providers need to take into account that they are forcing customers to pay for non-HDTV services they no longer need nor utilize.
If I could find comparable services with any local competitors (Comcast, Dish) I would switch in a heartbeat. Unfortunately the difference in costs are negligible and paying for different services through different provides would end up costing me more.
It is truly sad and appalling that the FCC, our government watchdog to regulate cost gauging does nothing to protect the American people and our congressional representative allow corporate lobbyist to pay for their votes.
Respectfully,
Mark Brown, BSN, RN, MPA
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I guess I am a socialist at heart. I just don't understand how anyone can be worth these amounts of money, be they CEOs of big corporations or sports stars.
Whether you are a janitor that cleans other peoples' messes, a nurse who cleans shit or helps someone in surgery, a teacher who attempts to teach our children where the parents fail, or the CEO of AT&T. We should all be paid according to what we provide for the benefit of society.
The janitor who cleans the mess so the CEO doesn't dirty his/her shoes is worth more than minimum wage. Most likely the CEO pays more for his/her shoes than the janitor makes in a week. Minimum wage: $7.25 an hour x 40 hours a week = $290.00 a week. Mens' Cole-Haan loafers, $200.00 a pair. Ferragamo shoes, men's $600.00 a pair, women's $500-600 a pair. A cheap pair of Cole-Haan shoes cost almost 70% of the janitors weekly wage, a cheap pair of Ferragamo is 207% of the janitors wage.
The fast food worker at McDonalds or Burger King is making minimum wage. He or she may have a family for which to care and feed. He/she may not have a college education, but they are providing a service to you. Should that fast food worker earn a living wage?
A Quarter Pounder meal at McDonalds averages $6.39, the worker makes $7.25 an hours, the CEO of McDonalds makes $9,200 an hour. The minimum wage worker makes 0.0008% of what the CEO makes.
I would prefer the person cooking and serving the meal to me makes a living wage versus the CEO who sits in an office overseeing the corporation and the stockholders making a profit on the sweat and work of the minimum wage worker who cannot afford to support his/her family.
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