Basketball madness might come in march, but the real Madness comes in April

American Corporatocracy Series

tax dodgers

In honor of April madness (and April Fools) I have chosen to look at 16 of the largest U.S. Corporations who have cheated the tax man by stashing profits overseas. These Corporations are all very profitable, but are either cutting jobs, off-shoring jobs, have been a recent recipient of public bailouts or have received tax refunds. In some cases, it’s all the above.

Now that it’s tax time and the corporate sector is set to report their first-quarter earnings, the madness begins. I’m not talking about the madness of college basketball, I’m talking about the type of madness that get’s the hatred flowing through the veins.

Ladies and gentlemen, thanks to our wonderful corporate tax structure, I give you the sweet shit sixteen.

Company NameCEOMoney StashedMoney Saved
1General ElectricJeffrey Immelt$102 billion$35.7 billion
2Microsoft Steve Ballmer$60 billion$19.4 billion
3MerckKenneth Frazier$44.3 billion$15.5 billion
4Cisco SystemsJohn Chambers$41.3 billion$14.45 billion.
5JP Morgan ChaseJames Dimon$21.8 billion$4.9 billion
6Goldman SachsLloyd Blankfein$20.63 billion$3.32 billion
7Bank of AmericaBrian Moynihan$18.5 billion$2.5 billion
8QualcommPaul Jacobs$16.4 billion$5.8 billion
9CaterpillarDouglas Oberhelman$13 billion$4.55 billion
10CorningWendell Weeks$10.8 billion$3.78 billion
11Dow ChemicalAndrew Liveris$10 billion$3.5 billion
12AlcoaKlaus Kleinfeld$8.3 billion$2.9 billion
13Honeywell InternationalDavid Cote$8.1 billion$2.835 billion
14Stanley Black & DeckerJohn Lundgren$3.6 billion$1.26 billion
15VerizonLowell McAdam$1.5 billion$525 million
16BoeingJames McNerney, Jr.$66 million

Figures are from 2008-2010

Who wins at this game?
Financially they all do, but no one wins this game in the long run. These short term gains are outweighed by the greed and irresponsibility of tax avoidance.

All these companies use our infrastructure, technology, research facilities, higher education and national defense to build incomparably successful businesses. They do everything in their power to avoid paying anything back, On top of off-shoring money, they use write-offs, exemptions, and loopholes to cut their tax bills to almost nothing. On top of all that, some of them get whopping tax refunds and juicy government subsidies to line their greedy little pockets. 

These Corporations along with other tax dodgers such as Google, Apple, Exxon, Fed Ex and countless others have been cheating the American people for too long with no thought given to Social, Moral, or Ethical standards. How long are we going to keep tolerating this?


  1. Concise and straight to the point…complicating all of this, is that trying to not use the above mentioned corporations, is figuring out all of the subsidiaries that they own and boycotting those as well. A consumer has to be so savvy to use their dollar as a vote.

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