Can you guess which company had the lowest tax percentage?

If you guessed Pepco Holdings, which own Delmarva Power, you guessed correctly… They paid a tax rate of -57.6% over a three year period. Pepco, the electricity utility that serves Washington, D.C. Pepco reported profits of $882 million in 2010, and negative taxes of $508 million — earning that negative tax rate of -57.6 percent.

That means unemployment, education, vital construction, and jobs, all got cut, to swell Pepco’s profits 57.6% higher than they would have been naturally.

In 2010, Verizon reported an annual profit of nearly $12 billion. The statutory federal corporate income tax rate is 35 percent, so theoretically, Verizon should have owed the IRS around $4.2 billlion. Instead, according to figures compiled by the Center for Tax Justice, the company actually boasted a negative tax liability of $703 million. Verizon ended up making even more money after it calculated its taxes.

That means unemployment, education, vital construction, and jobs, all got cut, to swell Verizon’s profits $703 million higher than they would have been naturally. (They then turned around and cut their workers pay and benefits, creating the strike that occurred during September).

Perhaps most famously, General Electric raked in $10.5 billion in profit in 2010, yet ended up reporting $4.7 billion worth of negative taxes…..

That means unemployment, education, vital construction, and jobs, all got cut, to swell General Electrics profits $4.7 billion higher than they would have been naturally.

Here is Eric Cantor’s Republican philosophy in a nutshell. And since he is Republican you might as well get back at him by blaming every Republican you see.. for it.

Americans must pay more themselves. More for insurance, more for pensions, more for health care, more for gas, more for electricity, more for water, more for state taxes, more for local taxes. They must do that while earning less. What used to come out of the $6.2 billion in corporate profits, is now coming out of the consumer.

This is EIC for billionaires. It is as if we said,.. we feel you didn’t make enough so we are giving you back money from those Americans who do pay taxes, so you can live within your means…..

This is why there are Occupy Demonstrations by hard working Americans in almost every city, county, and state across this union….

All America needs is to increase the taxes on the 1%…
That is all it will take to turn this nation into the America we’ve always dreamed of…