posted on Apr, 16 2012 @ 07:04 AM
Haven't really checked this but Verizon is probably a C corporation since it is a huge public company. In laymans terms, a c corp is taxed twice,
once at the entity level and once at the shareholder level. So although the entity may not pay tax, certainly the dividend distributions issued to big
shareholders are payable at their respective levels. I think the tax code is silly, especially the earned income credit, but the reality is nothing
huge has changed since 1986 although the inference in the OP is that the donations to those politicians was the driver behind the company's negative
effective tax rate. I don't like the system either, but it didn't really change with our current round of folks.
One of the top things I dislike about the tax code is the refundable credits poor people receive. You can pay in no tax and because you are broke with
kids, get a refund.