Danny Westneat, Seattle Times (excerpted)
“It’s not even close,” says Bob McIntyre. “In the past three years, you have paid way more into the system than Boeing.”
McIntyre is a tax wonk, the director of … Citizens for Tax Justice, released a study showing that 12 major U.S. businesses, with $171 billion in profits, combined to pay negative $2.5 billion in federal taxes the past three years. Meaning that even with all that profit, they paid no taxes.
Boeing was in this group. The company made $9.7 billion in profits in 2008, 2009 and 2010. It paid nothing in federal taxes, booking $178 million back from the government in various credits, for a total federal tax rate of -1.8 percent.
(Westneat) asked McIntyre if he was casting Boeing as a tax freeloader by looking at only a three-year window?
“Well, let’s look at 10 years,” he suggested. He tapped away at a database he keeps of financial statements.
“In the 10 years ending in 2010, Boeing had $29 billion in profits, and paid minus-$948 million in federal taxes.”
“I think in testimony I heard earlier that Boeing would like lower taxes,” said Rep. Pete Stark, D-Calif. “How much lower could you possibly need?”
Danny Westneat’s column appears Wednesday and Sunday. Reach him at 206-464-2086 or [email protected].