410.06_S11_California_Economy.2

410.06_S11_California_Economy.2 - Presented by Alex(tax...

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Presented by: Alex (tax), Richard (tax), Donna (mortgage), Karen (Unemployment)
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. The most tax burden is on average individual (45  % of the tax from personal income tax) The 10 % of the population that represents 90% of  the total wealth are only paying 9% of the tax Increase of the tax credit amount towards large  corporations
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 Large corporations spend millions of dollars in  political campaigns and lobbying, media and  interest groups. Verizon spent $12 million in campaign  contributions and it paid no federal corporate  income taxes
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Bank of America paid $24 million in lobbying and  $11 million to federal political campaigns from  2001 to 2010. As a result, it received $1.9 billion in  tax refund in 2010. Chevron spent $4.4 million in campaign  contributions and $91 million in lobbying  expenditures over the last decade. It received a  tax refund of $19 million in 2009.
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Republicans always favored fewer taxes and less  tax burden on corporations
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This note was uploaded on 09/29/2011 for the course ENG 410 taught by Professor Hilbert during the Spring '08 term at S.F. State.

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410.06_S11_California_Economy.2 - Presented by Alex(tax...

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