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Thu Mar 13 2014 (Updated 04/03/14)"Corrected" Billboard Calls Out Corporate Tax Loopholes
Thu Mar 13 2014 (Updated 04/03/14)Modified SF Billboard "Applauds" U.S. Corporations that Pay No Federal Taxes
The California Department of Corrections (CDC), which practices culture jamming by "rehabilitating" commercial advertisements, unveiled a new billboard campaign which calls to attention American corporations that completely avoid paying federal income taxes. On March 7, the CDC modified a San Francisco billboard to ask, "HOW DO I FIND A TAX LOOPHOLE?" In matching typeface the bottom of the billboard reads, "NO INCOME TAX FOR BOEING, GE and VERIZON."
The billboard was "rehabilitated" one week after the nonpartisan Center for Tax Justice published a report comparing the profits and income taxes for Fortune 500 companies. One hundred and eleven of the companies under investigation paid zero or less in federal income taxes for at least one year between 2008 and 2012. Twenty-six of these corporations, including Boeing, General Electric and Verizon, generated a combined total of $170 billion in profits, but maintained negative tax rates every year from 2008 to 2012.
Read More | CorrectionsDepartment.org
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