Top tax dodgers in the United States personally save billions at an extreme cost to society and the country’s poorest members. Amid the buzz of cutting welfare aid, U.S. Senator Bernard Sanders releases a verifiable list of the top corporate tax dodgers in the United States. Among those identified are familiar corporations including the Bank of America, Verizon, and Microsoft, among others. The list is composed of eighteen CEOs who have each been identified as earning billions annually and paying nothing in taxes for at least one year between 2008-2010.
As stated in Sanders’ introduction to the list, “these are some of the same CEOs who head corporations that received a total taxpayer bailout of more than $2.5 trillion from the federal reserve and avoided at least $34.5 billion in taxes by setting up more than 600 subsidiaries in offshore tax havens in 2008.”
The top five CEO’s on Sander’s list are Bank of America’s Brian Moynihan, Goldman Sachs’ Lloyd Blankfein, JP Morgan Chase’s James Dimon, General Electric’s Jeffrey Immelt, and Verizon’s Lowell McAdam.
Source:
Bernard Sanders, “Top Corporate Tax Dodgers” United States Senate, July 2, 2013, http://www.sanders.senate.gov/imo/media/doc/102512%20-%20JobDestroyers3.pdf.
Student Researcher: Pamela Wentzel (Sonoma State University)
Faculty Evaluator: Peter Phillips (Sonoma State University)