Feeling The Bern of Reality -- The Facts About Verizon and The 'Moral Economy'


Feeling The Bern of Reality – The Facts About Verizon and The 'Moral Economy’
Lowell McAdam
CEO at Verizon

I read with interest Jeff Immelt’s spirited response to Sen. Bernie Sanders putting GE on his hit-list of big corporations that are “destroying the moral fabric” of America.

In fact, I share his frustration. Verizon is in Sanders’s bull’s-eye, as well. The senator’s uninformed views are, in a word, contemptible. Here’s why.

His first accusation – that Verizon doesn’t pay its fair share of taxes – is just plain wrong. As our financial statements clearly show, we’ve paid more than $15.6 billion in taxes over the last two years – that’s a 35% tax rate in 2015, for anyone who’s counting. We’ve laid out the facts repeatedly and did so again yesterday (see “Sen. Sanders needs to get his facts straight” at Verizon.com/about/news). The senator has started to fudge his language – talking of taxes not paid in some unspecified “given year” – but that doesn’t make his contention any less false.

Sen. Sanders also claims that Verizon doesn’t use its profits to benefit America. Again, a look at the facts says otherwise. In the last two years, Verizon has invested some $35 billion in infrastructure – virtually all of it in the U.S. – and paid out more than $16 billion in dividends to the millions of average Americans who invest in our stock. In Sanders’s home state of Vermont alone, Verizon has invested more than $16 million in plant and equipment and pays close to $42 million a year to vendors and suppliers …

In short, The Bern will willingly parrot any lie, no matter how patently false, if it supports his ideology and his leash-holders.

For that matter, if The Bern wants to talk about political morality, he might start with his adherence to a political philosophy whose 20th century implementations slaughtered and starved 100s of millions of innocents!


I’m mildly curious why even bother to attack Sanders now, the delegate math is pretty much showing he is going to lose. Thus the Democrats get the nominee they deserve… Hillary.


Verizon has paid a %12 US federal taxes over the last 15 years on average. His “%35” figure, is the most recent year where they actually are paying over %20 for once, plus all of the taxes that YOU pay(not them). So he’s counting taxes on your bill where they just forward the money on the government, and things like SS and FICA taxes that also pass on. That’s extraordinarily disingenuous to the point of being a complete lie. Which is exactly what I’d expect from a Verizon executive.