Verizon doesn't duck its fair share of taxes
Your Feb. 25 editorial "Tax ducking: West Virginia firms" unfortunately relied on inaccurate data from Citizens for Tax Justice, a union-orchestrated front group whose board is dominated by national labor leaders. The fact is, Verizon is one of the largest taxpayers and investors in America. The company complies with all tax laws and pays its fair share of taxes.
According to Verizon's latest Form 10-K filing, the company has paid more than $11.1 billion in taxes over the past three years - including nearly $3.4 billion in 2012 alone. Verizon's 2010-12 payments include more than $1.5 billion in income taxes, $4 billion in employment taxes, and $5.6 billion in property and other taxes.
Assertions that Verizon has avoided paying taxes are demonstrably false and misleading. For example, Verizon's deferred tax liability often is wrongly characterized as a loophole, even though deferred taxes do not reduce Verizon's tax liability. U.S. economic development policy spreads out, or defers, some federal tax payments over a longer period of time for companies that invest in America's technology infrastructure. That's because investment in infrastructure creates jobs.
In 2010-12, while Verizon made more than $11.1 billion in tax payments, it also invested nearly $50 billion in technology infrastructure. This has created and sustained great U.S. jobs - both in and outside of Verizon - as the company has deployed innovative broadband technologies in West Virginia and nationwide.
Harry J. Mitchell
Director of public relations
Telescope necessary for tracking asteroids
Late last summer, the National Radio Astronomy Observatory in Green Bank learned that its National Science Foundation funding could be cut. Citizens and leaders questioned this logic but, outside of our own congressional delegation, we have heard little support from Washington.