Sanders: Boeing, GE, Verizon Would Pay More Taxes If I Win
Bernie Sanders is no fan of Wall Street. During a recent rally in Davenport, Iowa, he promised to make companies like Boeing, GE, and Verizon pay their taxes.
According to financial statements, all three of those companies avoided paying taxes between 2008 and 2013. During that period, they combined for $102 billion in profits.
“The federal income taxes paid by major corporations, like General Electric, Boeing and Verizon, since 2008, these three major corporations together, add up to less than zero,” he said, drawing boos from a packed audience.
“Well, under a Sanders administration, they are going to start paying taxes,” he added.
The Hill reports:
Sanders said his proposed spending plan, which includes universal higher education and has been estimated at more than $1 trillion, will be paid for by taxing corporations that hide profits overseas.
“I’ll tell you how we’re going to get it, we’re going to end the loophole that allows profitable corporations to stash their money in the Cayman Islands and in Bermuda,” he said.
The self-proclaimed democratic socialist also decried the Walton family, of Walmart fame, for perpetuating income inequality.
“Today in America, one family, the Walton family of Walmart, one family owns more wealth than the bottom 40 percent of American people. One family,” he said, adding that the supermarket abuses welfare programs to keep down its labor costs.
Sanders’ populist speech came just days before the Feb. 1 Iowa caucuses, where he trails Democratic front-runner Hillary Clinton by just 2.5 points, according to a RealClearPolitics average poll.
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