Apple isn’t the only major American corporation hiding profits abroad. Lauren Feeney at the Moyers & Company blog has assembled a list of 10 companies that paid little to no taxes last year, and another 10 that added at least $5 billion to their offshore tax havens.
Despite making $1.1 billion after going public last year, Facebook didn’t pay a dime in state or federal income taxes in 2012. Instead, thanks to the social media company’s use of a single tax break, it anticipates getting a massive refund from the government totaling $429 million.
Before the electoral year of 2012 slinks into history, it is worth a comparative glance back to the electoral year of 1912 to give us some jolting perspective on how degraded our contemporary elections, voter performance and election expectations have become.