Sign Our Love Letter to Verizon CEO Lowell McAdam!
From 2008-2010, the Verizon Corporation reported $32.5 billion in profits and paid its top four employees $46 million dollars. Despite this massive profit, Verizon has actually paid negative taxes, receiving almost a billion dollars in tax credits. Sign our letter to Verizon CEO Lowell McAdam now and urge him to pay his taxes!
Dear Lowell,
We hope this letter finds you well. Since today is Valentine’s day, we wanted to let you know just how much we love when people pay their fair share of taxes. Right now, we know that Verizon doesn’t.
While the working families you employ dutifully paid New York State income tax rate of 4.1%, your corporation actually enjoyed a tax rate of 2.6%. Nationally, Verizon paid -2.9% corporate tax rate. That’s not a typo. Verizon actually received a federal tax break of $951 million dollars, effectively paying negative taxes.
We know Verizon isn’t using the near billion dollars to provide phone service to more people, or to compensate your hard-working employees more fairly. Instead, these funds go directly into your pocket - and the pockets of other top Verizon execs.
If we didn’t pay our taxes, we’d be prosecuted by the IRS. Why, then, does the federal government allow you to not only dodge your taxes, but even receive tax credits funded by us - the taxpayers?
While our schools, hospitals, social services, and infrastructure face budget cuts, closures, and concessions, Verizon continues to dodge it’s taxes and wring more and more money out of a failing economy.
We strongly urge you to be a better corporate citizen here in New York and across America by paying taxes like the rest of us.
We’re on to you, Lowell. Can you hear us now?
Love,
The Citizen Action of New York Community
PS: We can’t even imagine the gift basket of roses and chocolates you’ll be sending to the lobbyists that won you your sweetheart deals.
We hope this letter finds you well. Since today is Valentine’s day, we wanted to let you know just how much we love when people pay their fair share of taxes. Right now, we know that Verizon doesn’t.
While the working families you employ dutifully paid New York State income tax rate of 4.1%, your corporation actually enjoyed a tax rate of 2.6%. Nationally, Verizon paid -2.9% corporate tax rate. That’s not a typo. Verizon actually received a federal tax break of $951 million dollars, effectively paying negative taxes.
We know Verizon isn’t using the near billion dollars to provide phone service to more people, or to compensate your hard-working employees more fairly. Instead, these funds go directly into your pocket - and the pockets of other top Verizon execs.
If we didn’t pay our taxes, we’d be prosecuted by the IRS. Why, then, does the federal government allow you to not only dodge your taxes, but even receive tax credits funded by us - the taxpayers?
While our schools, hospitals, social services, and infrastructure face budget cuts, closures, and concessions, Verizon continues to dodge it’s taxes and wring more and more money out of a failing economy.
We strongly urge you to be a better corporate citizen here in New York and across America by paying taxes like the rest of us.
We’re on to you, Lowell. Can you hear us now?
Love,
The Citizen Action of New York Community
PS: We can’t even imagine the gift basket of roses and chocolates you’ll be sending to the lobbyists that won you your sweetheart deals.