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Citigroup hasn't paid taxes in 4 years


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#1    OverSword

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Posted 12 February 2013 - 06:46 PM

From the article:

Citigroup is a perfect example. Remember how shortly after the bailout Citi wanted to raise salaries as the entire country was losing jobs? And how Citi wanted to pay one energy trader $100 million in 2009, in the midst of the crisis? And how later in 2009, Citigroup increased the salaries of its executives? At the same time Citigroup just couldn’t say “no” to its employees, it jacked up interest rates exorbitantly on its own credit card customers. See, it’s never a problem asking you to pay more.
From Senator Bernie Sanders, writing in the Huffington Post, we learn that Citigroup hasn’t paid federal taxes in four years.


In 2010, Bank of America set up more than 200 subsidiaries in the Cayman Islands (which has a corporate tax rate of 0.0 percent) to avoid paying U.S. taxes. It worked. Not only did Bank of America pay nothing in federal income taxes, but it received a rebate from the IRS worth $1.9 billion that year. They are not alone. In 2010, JP Morgan Chase operated 83 subsidiaries incorporated in offshore tax havens to avoid paying some $4.9 billion in U.S. taxes. That same year Goldman Sachs operated 39 subsidiaries in offshore tax havens to avoid an estimated $3.3 billion in U.S. taxes. Citigroup has paid no federal income taxes for the last four years after receiving a total of $2.5 trillion in financial assistance from the Federal Reserve during the financial crisis.

read more here http://americablog.c...s-jack-lew.html

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#2    Coffey

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Posted 12 February 2013 - 06:48 PM

That's what happens when you know the right people. lol

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#3    Sir Wearer of Hats

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Posted 12 February 2013 - 09:38 PM

Know the right people or brought the right politicians.


#4    aztek

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Posted 13 February 2013 - 12:53 AM

View PostWearer of Hats, on 12 February 2013 - 09:38 PM, said:

Know the right people or brought the right politicians.

are you sure you meant brought, not bought??

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#5    Sir Wearer of Hats

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Posted 13 February 2013 - 12:57 AM

the one that means "to purchase" rather then "to bring".
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#6    aztek

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Posted 13 February 2013 - 01:06 AM

lol, ok than I understood you correctly.

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#7    White Unicorn

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Posted 13 February 2013 - 01:26 AM

It's called a good management decisions to create a win win situation for corporate profits and commissions no matter which direction the economy or political elections take it.

It's AKA as play the game in the industry and if CFPB is destroyed they will create another fake bubble of wealth to pay commissions to the top corporate vampires who share the blood of the real workers and middle management who won't play the game.  They are replaced with the young and naive interns who will play the game and switch companies before the light is shown on their ways. They suck the common investors in with equally fake ratings and shadow revenues then the excutives retire in tax shelters before the fall of shares.

At this very moment they are betting there will not be a CFPB and if it survives the new commission for oversight will include their own boys!  Inside and somewhat protected whistleblowers are being told they lost the battle by not playing the game. If the corporates fail the whole world economy goes down with them. Politicians will appear to have them restructure but the game will remain the same.  

It's not a pretty picture.  



#8    THE MATRIX

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Posted 13 February 2013 - 04:23 AM

Wow a Tea Partier whining about a business not having to pay Taxes! Thats a first.


#9    AsteroidX

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Posted 13 February 2013 - 04:25 AM

**** citygroup. There leeches from the top to the bottom.


#10    preacherman76

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Posted 17 February 2013 - 06:12 PM

View PostTHE MATRIX, on 13 February 2013 - 04:23 AM, said:

Wow a Tea Partier whining about a business not having to pay Taxes! Thats a first.

What do you think about Citigroup not paying any taxes while on 0bamas watch TM? Or is it to much to ask for a thought from you that wasnt about bashing the opinion of another poster?


Anyhow Im so glad I love my kids more then I hate these scum bags. Cause seriously ................. nevermind

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#11    Simbi Laveau

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Posted 17 February 2013 - 07:01 PM

Neither has GE,and Mitt Romney holds 250 million in one off shore account ,and the middle class is eaten alive,and people die from starvation,but the answer ,as per bill gates ,is GMO crops ! Yes folks,he could feed the world organic food ,but glow are the answer .

Edited by Simbi Laveau, 17 February 2013 - 07:02 PM.

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#12    AsteroidX

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Posted 17 February 2013 - 07:39 PM

I buried this one in a different thread maybe this is a good spot for it. It would appear CityGroup is not our only leech.

http://www.foxnews.c...record-profits/


#13    Cradle of Fish

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Posted 19 February 2013 - 04:51 AM

Mmm yes, tell us again how government welfare is the cause of all our money woes. :rolleyes:

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#14    AsteroidX

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Posted 19 February 2013 - 04:18 PM

msnbc....arent they the Liberals...whats this garbage coming from them. Tell me it aint so.







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