West Virginians are paying their income taxes

But Verizon gets $3.3 billion in tax-free profits?

Why do we have to pay taxes on April 15^th but

Verizon Corporation doesn’t have to pay any taxes on $3.3 billion?

THE DEAL:

Verizon wants to sell all its land phone lines in West Virginia (and 13 other states) to a much smaller Frontier Communications.  If approved by the WV Public Service Commission, this would be one of the largest deals in the history of the telecommunications industry and

Verizon will reap $8.5 billion from the sale, with $3.3 billion in profits totally TAX FREE!

Verizon’s sales in New England and Hawaii to smaller telecommunications firms resulted in those companies going Bankrupt!

How is this possible?

THE TAX LOOPHOLE:

The Verizon-Frontier deal was structured to take advantage of an obscure tax-avoidance scheme cooked up by Wall Street lobbyists called the “Reverse Morris Trust.” (RMT)

The RMT is a sophisticated financial trick that allows big corporations to unload unwanted assets and debt without having to pay ANY taxes. 

That’s doesn’t seem fair! Regular citizen have to pay ALL their taxes!

THE RMT IS ON ITS WAY OUT

On March 24, 2010 the U.S. House of Representatives outlawed the RMT tax-loophole, viewing it as harmful to the American economy.

Now the U.S. Senate will have to vote on the bill. It’s important that Senator Rockefeller, a member of the Finance Committee, knows the RMT isn’t fair to taxpayers like us.

What can I do?

CONTACT SENATOR ROCKEFELLER

Tell Senator Rockefeller that it’s not fair that you have to pay taxes, while Fortune 500 companies like Verizon get off paying no taxes on a deal that makes them $3.3 billion in profits.

Ask Senator Rockefeller to get rid of the Reverse Morris Trust!

Senator John D. Rockefeller IV

202-224-6472 (Washington, DC)