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December 09, 2002

Snow's CSX Tax Freeloader

Citizens for Tax Justice has a press release noting that CSX:

  • In three of the past four years, Snow’s company, CSX Corporation, paid no
    federal income tax at all.
  • In fact, instead of paying taxes, CSX supplemented its $934 million in pretax
    U.S. profits over the four years with a total of $164 million in tax rebate checks
    from the federal government.

    Well-- he sounds like the perfect guy to represent Bush's corporate welfare economic policy.

    Thanks to Josh Marshall for the link.

    Posted by Nathan at December 9, 2002 04:21 PM

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    Comments

    1) Rules exist to guide how much you (and corporations) pay in taxes)

    2) If you obey those rules, and your tax liability is zero (which is can be, as taxes can be deferred due to depreciation and the like), good for you

    3) I doubt if many American citizens do their taxes, look at the number, and say "Gee, this looks a bit low.. maybe I ought to send in a couple extra thousand just cause I love taxes so much."

    4) Your statement also applies to most of the people receiving the earned income tax credit, who payed zero in taxes and yet received a tax rebate check from the federal government

    Posted by: Grant at December 12, 2002 03:00 PM

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