Citigroup hasn’t paid taxes in 4 years, got $2.5 trillion from feds...

Chris has gone on at length about the corporate “welfare queens” on Wall Street and the right (they’re almost always Republican) who took billions in federal bail out money in late 2008 and early 2009, and now turn around and tell the rest of us that we need to tighten our belts by cutting Medicare and Social Security, and increasing the age of eligibility for each program.

Just like the Republican wars, there’s always money to be found when corporations need a bailout. But when American citizens need the support of their government, such as when they reach 65 and (hopefully) are able to retire, suddenly the money’s all gone (until the next war).

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. Full story...

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1. Apple hides almost $1bn a week from US tax man...
2. Apple paid only 2% corporation tax outside US...
3. Microsoft, HP avoided paying billions in taxes...
4. Google pays just £6m UK tax on revenue of £3.95bn...
5. Goldman Sachs "escapes paying £10million bill in deal with the taxman"
6. The American economy will transfer $5 trillion to banker pay and bonuses...