These 18 CEOs/Companies Wrecked the Economy by Taking Trillions in Bailouts, Evading Taxes, and Outsourcing Jobs

 

 

Senator Sanders, in his no-nonsense approach, released a report identifying 18 CEOs responsible for wrecking the economy.Bernie Sanders is the underdog in the American political race, but he’s quickly gaining momentum as a prime candidate to lead the US, as his no-nonsense, candor approach is appreciated by many – especially the millennial generation.

In response to 80 CEOs recently publishing a letter on the Wall Street Journal lecturing America about deficit reduction and urging them to “act on the deficit and reform Medicare and Medicare,” Sanders had the following to say:

“There really is no shame. The Wall Street leaders whose recklessness and illegal behavior caused this terrible recession are now lecturing the American people on the need for courage to deal with the nation’s finances and deficit crisis. Before telling us why we should cut Social Security, Medicare and other vitally important programs, these CEOs might want to take a hard look at their responsibility for causing the deficit and this terrible recession.

“Our Wall Street friends might also want to show some courage of their own by suggesting that the wealthiest people in this country, like them, start paying their fair share of taxes. They might work to end the outrageous corporate loopholes, tax havens and outsourcing provisions that their lobbyists have littered throughout the tax code – contributing greatly to our deficit.

“Many of the CEO’s who signed the deficit-reduction letter run corporations that evaded at least $34.5 billion in taxes by setting up more than 600 subsidiaries in the Cayman Islands and other offshore tax havens since 2008. As a result, at least a dozen of the companies avoided paying any federal income taxes in recent years, and even received more than $6.4 billion in tax refunds from the IRS since 2008.

“Several of the companies received a total taxpayer bailout of more than $2.5 trillion from the Federal Reserve and the Treasury Department.

“Many of the companies also have outsourced hundreds of thousands of American jobs to China and other low wage countries, forcing their workers to receive unemployment insurance and other federal benefits. In other words, these are some of the same people who have significantly caused the deficit to explode over the last four years.”Remaining true to his promise to serve the people as a politician, Sanders responded to the lecture from the American CEO’s by releasing a report detailing how 18 of them have helped blow up the deficit and wreck the economy outsourcing jobs and evading US taxes.

The list of 18 CEO’s follows:

1) Bank of America CEO Brian Moynihan

Amount of federal income taxes paid in 2010? Zero. $1.9 billion tax refund.

Taxpayer Bailout from the Federal Reserve and the Treasury Department? Over $1.3 trillion.

Amount of federal income taxes Bank of America would have owed if offshore tax havens were eliminated? $2.6 billion.

2) Goldman Sachs CEO Lloyd Blankfein

Amount of federal income taxes paid in 2008? Zero. $278 million tax refund.

Taxpayer Bailout from the Federal Reserve and the Treasury Department? $824 billion.

Amount of federal income taxes Goldman Sachs would have owed if offshore tax havens were eliminated? $2.7 billion

3) JP Morgan Chase CEO James Dimon

Taxpayer Bailout from the Federal Reserve and the Treasury Department? $416 billion.

Amount of federal income taxes JP Morgan Chase would have owed if offshore tax havens were eliminated? $4.9 billion.

4) General Electric CEO Jeffrey Immelt

Amount of federal income taxes paid in 2010? Zero. $3.3 billion tax refund.

Taxpayer Bailout from the Federal Reserve? $16 billion.

Jobs Shipped Overseas? At least 25,000 since 2001.

5) Verizon CEO Lowell McAdam

Amount of federal income taxes paid in 2010? Zero. $705 million tax refund.

American Jobs Cut in 2010? In 2010, Verizon announced 13,000 job cuts, the third highest corporate layoff total that year.

6) Boeing CEO James McNerney, Jr.

Amount of federal income taxes paid in 2010? None. $124 million tax refund.

American Jobs Shipped overseas? Over 57,000.

Amount of Corporate Welfare? At least $58 billion.

7) Microsoft CEO Steve Ballmer

Amount of federal income taxes Microsoft would have owed if offshore tax havens were eliminated? $19.4 billion.

8) Honeywell International CEO David Cote

Amount of federal income taxes paid from 2008-2010? Zero. $34 million tax refund.

9) Corning CEO Wendell Weeks

Amount of federal income taxes paid from 2008-2010? Zero. $4 million tax refund.

10) Time Warner CEO Glenn Britt

Amount of federal income taxes paid in 2008? Zero. $74 million tax refund.

11). Merck CEO Kenneth Frazier

Amount of federal income taxes paid in 2009? Zero. $55 million tax refund.

12) Deere & Company CEO Samuel Allen

Amount of federal income taxes paid in 2009? Zero. $1 million tax refund.

13) Marsh & McLennan Companies CEO Brian Duperreault

Amount of federal income taxes paid in 2010? Zero. $90 million refund.

14) Qualcomm CEO Paul Jacobs

Amount of federal income taxes Qualcomm would have owed if offshore tax havens were eliminated? $4.7 billion.

15) Tenneco CEO Gregg Sherill

Amount of federal income taxes Tenneco would have owed if offshore tax havens were eliminated? $269 million.

16)  Express Scripts CEO George Paz

Amount of federal income taxes Express Scripts would have owed if offshore tax havens were eliminated? $20 million.

17) Caesars Entertainment CEO Gary Loveman

Amount of federal income taxes Caesars Entertainment would have owed if offshore tax havens were eliminated? $9 million.

18). R.R. Donnelly & Sons CEO Thomas Quinlan III

Amount of federal income taxes paid in 2008? Zero. $49 million tax refund.

As Politicus USA discloses, eighteen of the 80 CEOs who signed the call for deficit action are actually some of the biggest outsourcers and tax cheats in America. Not only did they crash the economy in 2008, they followed that incident by taking billions in taxpayer bailout dollars.

Then, they outsourced jobs and evaded taxes. It’s pretty unbelievable, then, that they are now calling for action on a deficit that they helped create over the past four years.

Thankfully, Senator Sanders is not standing for the corruption and has done a great deed by bringing the disgraceful actions of these CEOs to attention.

Raise awareness by sharing this article and comment your thoughts below.

All data from Top Corporate Dodgers report.

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17 Responses to “These 18 CEOs/Companies Wrecked the Economy by Taking Trillions in Bailouts, Evading Taxes, and Outsourcing Jobs”

  1. Nollidge says:

    Well to be fair Bernie,most of those listed aren’t really going abroad.They’re going off to their real home – ISRAEL!.
    And all the tax laws that enabled them to rob America blind were passed by congress – you know Bernie,your pals just down the road from where you work.
    How was it done?.Good question.Here’s a clue.It is unheard of for a congresscritter to retire poor.Of course,any suggestion that this body of noble legislators have been taking bribes in any way shape or form is most slanderous.(Yeah,I am being sarcastic).

    • sovereigntea says:

      At the root of the problem

      “Citzens United” a Supreme Court case about election spending allowing foreign corporations ( ie their backers ) to buy the US govt.

      Many would of course call that treason but average Americans are just as weak and stupid as average Brits.

      These 4 items are the primary threats to American independence and force of law under the real and quite forgotten constitution.

      1 The Israel lobby and gambling boss Shelly Adelson bribing American politicians.

      2 Controlled news, which InfoWars is a prime example of.

      3 Gerrymandering (look it up) which makes America a dictatorship.

      4 The Supreme Court and “Citizens United.” Stewart Rhodes needs to look this up too and understand how this is what is really responsible for the dictatorship.

    • GNJ says:

      “Well to be fair Bernie,most of those listed aren’t really going abroad.They’re going off to their real home – ISRAEL!.”

      Yeah McLennan, Donnelly, Quinlan, Moynihan, McAdam, McNerney typical Jewish names begorrah! (Btw…didn’t you yanks steal America off the actual native Americans in the first place anyway?;)

      • Nollidge says:

        Ever heard of “crypto-Jews”?.They adopt a surname that fits in well with the country they’ve moved to – y’know,like Smith Jones Bloggs,etc.But they know who the other cryptos are.Like.for example,in Hollywood.Tony Curtis,Kirk Douglas.Such real American sounding names.Right?.

  2. Nollidge says:

    But don’t just take my word for it.Here’s Donald Trump,being asked questions at the first candidates debate & questioning,whist sharing the platform with several other Republican candidates.
    via Jimstone;
    “Trump totally shreds establishment credibility during debate”.

    “If you donate to politicians, you get what you want.
    BAIER: You’ve also donated to several Democratic candidates, Hillary Clinton included, and Nancy Pelosi. You explained away those donations saying you did that to get business-related favors. And you said recently, quote, “When you give, they do whatever the hell you want them to do.”

    TRUMP: “You’d better believe it.

    BAIER: ” they do?”.

    TRUMP: “If I ask them, if I need them, you know, most of the people on this stage I’ve given to, just so you understand, a lot of money. I will tell you that our system is broken. I gave to many people, before this, before two months ago, I was a businessman. I give to everybody. When they call, I give. And do you know what? When I need something from them two years later, three years later, I call them, they are there for me. And that’s a broken system. ”

    STRAIGHT FROM THE HORSES MOUTH & IN FRONT OF THE VERY KIND OF PEOPLE HE’S GIVEN MONEY TOO!!.

    • Jennifer says:

      Ya gotta love The Donald.
      Yes, he’s done business with these corrupt, sh***y, types in business and politics, and sadly he’s also been a friend of Prince Andrew’s teen loving friend, Jeffrey Epstein.
      So, he obviously knows how depraved, and dishonest politics really is.
      OK, is he being recklessly honest? Turning over a new leaf? Confessing? Or being cynical, knowing that the American voters are just too naive to really comprehend the utter depths of depravity of their political leaders?
      The Donald, like Corbyn, don’t even get within a hair’s breadth, without the approval of the chess-board masters.

  3. ian says:

    Kind of makes benefit street look like peanuts.

    • ferryt says:

      The corporate media and TV like nothing more than attacking those unfortunate enough to be on benefits in this country.

      They don’t tend to mention or touch on subjects such as that which is covered in this article.

      Don’t get me started on that bastard IDS Ian! What a sick and cruel man. You almost wonder if they enjoy the suffering they have inflicted on the most vulnerable in society.

      • ian says:

        I know what you’re saying ferryt. I know too that some are fiddling this and that, but these bastards make it pale into insignificance.

      • ferryt says:

        I went to Derek Laud’s twatter feed the other day, since he has been accused of very serious and disgusting crimes against young boys and there was another twatter user asking him about it. This f***er mentioned that 74k wasn’t enough in the recent MP pay rise. Hmmm well expenses are claimed for everything including mortgages, food, travel well everything as far as I can see.

        I know of no job that will pay your mortgage, food, fricking light bulbs etc.

        Since that is what most of the work force are trying to pay off how in the hell is 74k not enough? I mean they literally have no outgoings. Cause we pay for all that. Everything is paid for and here is a top up of 74k. Ffs!

        It’s outrageous. Grrrrr!

      • sovereigntea says:

        Re Derek Laud who attended Sam & Dave’s wedding lookup Ludgate Communications & Leon Brittinski

        IDS is implementing a covert Nazi T4 program. EUgenics !

  4. Lynn says:

    Amerka is gone…they have really fallen for the famous Dream. They were put to sleep a long time ago by the paperclips. Now they are under occupation. We are going the same way too now. They used Amerika to invade and rape the world. Not police it. They all believed the Neoconmen. What a truly savage takeover.

  5. GNJ says:

    Erm…would that be the Nazi T4 program o the holocaust that never happened because according to the likes of revisionists like Dogman et al they actually all died of typhus *rolls eyes*?

    • ferryt says:

      Haha you are so funny!

      Got any more jokes?

      😉

    • ian says:

      what was it then diesel fumes? gas chambers built after the war?

    • Nollidge says:

      Dear GNJ.The Holocaust allegation is an allegation of mass murder.So,where is the investigation?.Answer.there never was one.But there have been a flood of “Holocaust Memoirs”.Unfortunately whenever thes are subjected to even a cursory investigation they have all turned out to be lying bullshit.But they helped stoke up the Jew’s blood libel against the White race.Now go & collect your shekels from your Hasbara boss & toddle over to the Daily Mail.They run a Hitler/Nazi horror story every week.You’ll be much happier over there.

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