Sanders: Boeing, GE, Verizon would pay more taxes if I win

by Bradford Richardson - 01/30/16 9:27 AM ET

Democratic presidential hopeful Bernie Sanders on Friday specifically listed several corporations that would have to pay more taxes under his administration.

At a rally in Davenport, Iowa, Sanders said General Electric, Boeing and Verizon had not paid federal income taxes from 2008 to 2013, during which they combined to make more than $102 billion in profits.

{mosads}“The federal income taxes paid by major corporations, like General Electric, Boeing and Verizon, since 2008, these three major corporations together, add up to less than zero,” he said, drawing boos from a packed audience.

“Well, under a Sanders administration, they are going to start paying taxes,” he added.

Sanders said his proposed spending plan, which includes universal higher education and has been estimated at more than $1 trillion, will be paid for by taxing corporations that hide profits overseas.

“I’ll tell you how we’re going to get it, we’re going to end the loophole that allows profitable corporations to stash their money in the Cayman Islands and in Bermuda,” he said.

The self-proclaimed democratic socialist also decried the Walton family, of Walmart fame, for perpetuating income inequality.

“Today in America, one family, the Walton family of Walmart, one family owns more wealth than the bottom 40 percent of American people. One family,” he said, adding that the supermarket abuses welfare programs to keep down its labor costs.

Sanders’ populist speech came just days before the Feb. 1 Iowa caucuses, where he trails Democratic front-runner Hillary Clinton by just 2.5 points, according to a RealClearPolitics average poll.

Tags Bernie Sanders Boeing General Electric Iowa Verizon Walmart