May 5, 2011
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Verizon reported $24.2 billion in pre-tax income for 2009 and 2010, yet paid $0 in federal income tax.
In addition, Verizon actually claimed a refund of $1.3 billion, earning it a place on what the Washington Times calls the “Tax Evaders’ Wall of Shame.”
What’s really incredible is that Verizon’s actions are perfectly legal. The company is exploiting tax loopholes to get the maximum reward.
Despite huge profits and a free ride on taxes, Verizon has slashed union jobs, pulled back on FiOS, and neglected copper lines.
Verizon sends our jobs to lower paid contactors who get only a fraction of our benefits.
Verizon continues to move work to non-union and lower tier Verizon Wireless while fighting unionization there.
Verizon should pay its fair share of the taxes that fund programs like schools, roads, public safety, and job training, and it should invest in good jobs, quality service, and broadband buildout.
