Archive for November 16th, 2014

How does a US corporation pay a 2 percent negative tax rate? It gets a rebate on taxes it never ever paid. So, if Boeing (in this case) made $100 billion from 2008-2013, it paid zero in federal taxes, and received $2 billion from the taxpayers in the form of a check or checks given to the company by the Federal government. Quite naturally, the disbursement of much of that money goes to the shareholders of Boeing, members of the 1 percent. And so that $2 billion represents a massive redistribution of income from taxpayers (the 99 percent) to the 1 percent. Nice scam huh?

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