Political Capital

Posts tagged: corporations

Tim Cook, chief executive officer of Apple Inc., arrives to testify at a Senate Permanent Subcommittee on Investigations in Washington, D.C., on May 21, 2013. Cook defended his company's use of offshore tax shelters before U.S. senators who castigated the most-valuable technology company for avoiding $9 billion and more in payments.

Photograph by Pete Marovich/Bloomberg

Tim Cook, chief executive officer of Apple Inc., arrives to testify at a Senate Permanent Subcommittee on Investigations in Washington, D.C., on May 21, 2013. Cook defended his company's use of offshore tax shelters before U.S. senators who castigated the most-valuable technology company for avoiding $9 billion and more in payments.

Bloomberg by the Numbers: 12.6%

That was the average effective federal tax rate in 2010 for profitable U.S. corporations, according to a Government Accountability Office report. While the statutory federal corporate income tax rate ranges from 15 percent to 35 percent, they provide “only a...

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Photograph by Scott Eells/Bloomberg

Bloomberg by the Numbers: $181 Billion

That’s how much in income tax breaks U.S. corporations received in 2011, according to a Government Accountability Office report. The total refers to so-called tax expenditures — revenue that the federal government foregoes because of exemptions, deductions, credits, deferral or...

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President Barack Obama and his wife at the Commander-in-Chief Inaugural Ball in Washington on Jan. 20, 2009.

Photograph by Mark Wilson/Pool via Bloomberg

President Barack Obama and his wife at the Commander-in-Chief Inaugural Ball in Washington on Jan. 20, 2009.

Obama’s Inauguration: Corporations are People Too, Unlimited Welcome

Written with Joe Sobczyk President Barack Obama’s inaugural committee will accept unlimited donations from corporations and individuals, reversing his stance of four years ago. After a presidential campaign that cost more than $2 billion in spending by candidates, political parties...

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A rally at the Supreme Court to mark the second anniversary of the Citizens United v. FEC Supreme Court.

Photograph by Bill Clark/CQ Roll Call/Getty Images

A rally at the Supreme Court to mark the second anniversary of the Citizens United v. FEC Supreme Court.

Super-PACs: Little From Corporations

The Supreme Court’s ruling in Citizens United v. Federal Election Commission may have overturned a century-old ban on corporations spending money on federal elections. Yet that 2010 ruling, which also spawned the creation of independent expenditure-only committees known as super-PACs...

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Protesters planned to 'occupy' the U.S. Supreme Court, as well as courthouses across the country, in a show of protest against the two-year anniversary of the controversial Citizens United ruling.

Photograph by Shawn Thew/EPA

Protesters planned to 'occupy' the U.S. Supreme Court, as well as courthouses across the country, in a show of protest against the two-year anniversary of the controversial Citizens United ruling.

Corporations: Hands-Off Candidates

While the Supreme Court has opened a floodgate of contributions to committees promoting or opposing candidates, a federal appeals court says the prohibition against corporations contributing directly to candidates remains: As Bloomberg’s Tom Schoenberg reports, a three-judge appeals panel in Richmond,...

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Donations to the Orange County Liberty Counsel in Florida.

Photograph by Chip Somodevilla/Getty Images

Donations to the Orange County Liberty Counsel in Florida.

Supreme Court Doubles the Money

If there was any doubt about the Supreme Court’s stance on Citizens United — the ruling that opened a floodgate of big donations to political campaigns — that was removed today. Without even holding any arguments on the case, the...

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