Return on Your Investment: Nil, if you’re a taxpayer, plenty if you’re a GE shareholder

ThinkProgress » Bank Of America Paid Nothing In Federal Income Taxes Last Year And Got Almost $1 Billion From Taxpayers

[S]ome of the country’s biggest corporations are getting away without being asked to pay anything at all. In 2009, mega corporations like Boeing and General Electric managed to avoid paying a penny in federal taxes — while also netting enormous benefits in tax benefits and subsidies.

Now, with many companies releasing their financial reports for 2010, it appears that Bank of America — the nation’s largest bank — has gone a second year in a row paying absolutely no federal corporate income taxes. In fact, not only did the company use its losses to avoid paying taxes last year, but it actually reported a tax benefit of almost a billion dollars …

ThinkProgress » Bank Of America Paid Nothing In Federal Income Taxes Last Year And Got Almost $1 Billion From Taxpayers