10 Big Companies That Pay No Taxes (and Their Favorite Politicians)

<a href="http://www.flickr.com/photos/83346641@N00/3446025121/?reg=1&src=fave">JD Hancock</a>/Flickr

Fight disinformation: Sign up for the free Mother Jones Daily newsletter and follow the news that matters.


Between 2008 and 2011, 26 major American corporations paid no net federal income taxes despite bringing in billions in profits, according to a new report (PDF) from the nonprofit research group Citizens for Tax Justice. CTJ calculates that if the companies had paid the full 35 percent corporate tax rate, they would have put more than $78 billion into government coffers.

Here’s a look at the 10 most profitable tax evaders and the politicians their CEOs, employees, and PACs give the most money to.

Verizon Communications
Profits: $19.8 billion    Effective tax rate: -3.8%

Top recipients, 2011-2012
President Barack Obama: $51,493
Sen. Robert Menendez (D-N.J.): $24,450
Sen. Mitch McConnell (R-Ky.): $23,700
Rep. John Boehner (R-Ohio): $22,500
Sen. Kirsten Gillibrand (D-N.Y.): $15,000

General Electric
Profits: $19.6 billion    Effective tax rate: -18.9%

Top recipients, 2011-2012
Mitt Romney: $53,750
President Barack Obama (D): $30,493
Sen. Scott Brown (R-Mass.): $23,900
Rep. Howard Berman (D-Calif.): $21,860
Rep. Chris Murphy (D-Conn.): $19,750

Boeing
Profits: $14.8 billion    Effective tax rate: -5.5%
Top recipients, 2011-2012
Rep. Buck McKeon (R-Calif.): $31,750
Rep. Adam Smith (D-Wash.): $25,000
Former Sen. George Allen (R-Va.): $23,500
Sen. Maria Cantwell (D-Wash.): $23,125
Rep. Ron Paul (R-Texas): $20,986

NextEra Energy: North America’s largest solar and wind power operator, based in Florida
Profits: $8.8 billion    Effective tax rate: -2%
Top recipients, 2011-2012
George LeMieux (R-Fla.): $9,500
Mike Haridopolos (R-Fla.): $4,800
Sen. Maria Cantwell (D-Wash.): $2,000
Rep. Ron Paul (R-Texas): $2,000
Rep. Tom Rooney (R-Fla.): $2,000

American Electric Power: Electric utility based in Columbus, Ohio
Profits: $8.2 billion    Effective tax rate: -6.4%
Top recipients, 2011-2012
Rep. John Boehner (R-Ohio): $34,750
Rep. Steve Stivers (R-Ohio): $34,050
Rep. Bob Gibbs (R-Ohio): $21,700
Sen. Joe Manchin (D-W. Va.): $19,750
Sen. Sherrod Brown (D-Ohio): $18,450

Pacific Gas & Electric: California electrical utility
Profits: $6 billion    Effective tax rate: -8.4%
Top recipients, 2011-2012
President Barack Obama (D): $6,250
Rep. Jim Costa (D-Calif.): $5,000
Rep. Kevin McCarthy (R-Calif.): $5,500
Rep. Fred Upton (R-Mich.): $5,000
Rep. Jeff Denham (R-Calif.): $3,500

Apache: Houston-based oil and gas company
Profits: $6 billion    Effective tax rate: -0.3%
Top recipients, 2011-2012
David Dewhurst (R-Texas): $25,000
Rep. Connie Mack (R-Fla.): $5,000
Rep. Bill Cassidy (R-La.): $2,500
Rep. Mike Conaway (R-Texas): $2,500
Rep. Gene Green (D-Texas): $2,500
Sen. Mitch McConnell (R-Ky.): $2,500
Brendan Doherty (R-R.I.): $2,500

Consolidated Edison: New York energy company
Profits: $5.9 billion    Effective tax rate: -1.3%
Top recipients, 2011-2012
Sen. Maria Cantwell (D-Wash.): $15,050
Sen. Kirsten Gillibrand (D-N.Y.): $8,000
Rep. Edolphus Towns (D-N.Y.): $6,650
Then-Rep. David Wu (D-Ore.): $2,500
Rep. Joseph Crowley (D-N.Y.): $1,500
Sen. Harry Reid (D-Nev.): $1,500
Rep. Jose Serrano (D-N.Y.): $1,500

El Paso: Houston-based energy company that operates the country’s largest natural gas pipeline
Profits: $4.6 billion    Effective tax rate: -0.9%
Top recipients, 2011-2012
David Dewhurst (R-Texas): $7,500
Mitt Romney (R): $5,000
Rep. John Barrow (D-Ga.): $3,000
Rep. Diane Black (R-Tenn.): $2,750
Sen. John Barrasso (R-Wyo.): $2,500
Sen. Max Baucus (D-Mont.): $2,500
Sen. Mitch McConnell (R-Ky.): $2,500
Gov. Rick Perry (R-Texas): $2,500
Rep. Fred Upton (R-Mich.): $2,500
Sen. Roger Wicker (R-Miss.): $2,500

CenterPoint Energy: Electric and gas utility company based in Houston
Profits: $3.1 billion    Effective tax rate: -11.3%
Top recipients, 2011-2012
David Dewhurst (R-Texas): $22,050
Gov. Rick Perry (R-Texas): $13,458
Sen. Mitch McConnell (R-Ky.): $10,299
Rep. Greg Walden (R-Ore.): $7,000
Rep. Kevin Brady (R-Texas): $4,000

Giving data from the Center for Responsive Politics. Includes all 2011-12 campaign donations from each company’s employees and corporate PACs.  

GREAT JOURNALISM, SLOW FUNDRAISING

Our team has been on fire lately—publishing sweeping, one-of-a-kind investigations, ambitious, groundbreaking projects, and even releasing “the holy shit documentary of the year.” And that’s on top of protecting free and fair elections and standing up to bullies and BS when others in the media don’t.

Yet, we just came up pretty short on our first big fundraising campaign since Mother Jones and the Center for Investigative Reporting joined forces.

So, two things:

1) If you value the journalism we do but haven’t pitched in over the last few months, please consider doing so now—we urgently need a lot of help to make up for lost ground.

2) If you’re not ready to donate but you’re interested enough in our work to be reading this, please consider signing up for our free Mother Jones Daily newsletter to get to know us and our reporting better. Maybe once you do, you’ll see it’s something worth supporting.

payment methods

GREAT JOURNALISM, SLOW FUNDRAISING

Our team has been on fire lately—publishing sweeping, one-of-a-kind investigations, ambitious, groundbreaking projects, and even releasing “the holy shit documentary of the year.” And that’s on top of protecting free and fair elections and standing up to bullies and BS when others in the media don’t.

Yet, we just came up pretty short on our first big fundraising campaign since Mother Jones and the Center for Investigative Reporting joined forces.

So, two things:

1) If you value the journalism we do but haven’t pitched in over the last few months, please consider doing so now—we urgently need a lot of help to make up for lost ground.

2) If you’re not ready to donate but you’re interested enough in our work to be reading this, please consider signing up for our free Mother Jones Daily newsletter to get to know us and our reporting better. Maybe once you do, you’ll see it’s something worth supporting.

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate