Corporations - that pay no federal income taxes

Uranus - Pluto Squares 2012 - 2018
Elites ♥ Mitt - Link 

Mitt Romney, a multimillionaire said he has no plans to release his income tax returns if he wins his party’s nomination. Romney, whose most recent disclosure in August, estimated his personal wealth as high as $250 million.

Under  Romney, Bain cut jobs in S. C. and N. H.    

Cutting welfare spending dramatically won't hurt the poor ~ Governor Mitt Romney

NYT: Tax Benefits From Options as Windfall for Businesses

The stock market’s rebound from the financial crisis three years ago has created a potential windfall for hundreds of executives who were granted unusually large packages of stock options shortly after the market collapsed. Now, the corporations that gave those generous awards are beginning to benefit, too, in the form of tax savings.
Thanks to a quirk in tax law, companies can claim a tax deduction in future years that is much bigger than the value of the stock options when they were granted to executives. This tax break will deprive the federal government of tens of billions of dollars in revenue over the next decade. And it is one of the many obscure provisions buried in the tax code that together enable most American companies to pay far less than the top corporate tax rate of 35 percent — in some cases, virtually nothing even in very profitable years.

Essay ~  by Laura Clawson

It's not hard to spend more on lobbying than you pay in federal income taxes when you pay no federal income taxes or pay an effective negative rate. But it's still worth taking a look at the contrast, as Public Campaign has done with a look at 30 profitable corporations that spent more on lobbying than federal income taxes—over three years, they spent $476 million, or $400,000 a day, weekends included, on lobbying. (And you know Congress wasn't legislating most of those days, though they may have been meeting with lobbyists on days they weren't actually working for us.)

Looking at lobbying and related expenses offers an interesting map of corporate priorities. Thirty corporations, three years, $164 billion in combined profits, nearly $11 billion in tax rebates. So what do they do with that? Top executives get $706 million in compensation in 2010 alone. Not only does $476 billion go to lobbying, but they spend $22 million on federal elections. The lowest amount any of these 30 companies spent on lobbying was $710,000, while General Electric clocked in at $84 million. At least seven of these companies laid off a combined 54,000 workers since 2008; others may have eliminated still more jobs under the radar.

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American Poverty Statistics & News - LINK

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Study: Gingrich tax plan would provide big breaks for rich, blow huge hole in ...

The tax plan by GOP presidential hopeful Newt Gingrich would provide big tax breaks to the rich and blow a huge hole in the federal budget deficit, according to an independent study released Monday.