Feeling The Bern of Reality – The Facts About Verizon and The 'Moral Economy’
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!