John Snow

Corporate Freeloader Chief is Bush's Choice to Head Treasury
12-Dec-02
John Snow

"John W. Snow, Bush's choice to replace the fired Paul O'Neill as Secretary of the Treasury, is the CEO of a champion corporate tax dodger, CSX Corporation. CSX's 2001 annual report states the following company motto: 'CSX will pursue all available opportunities to pay the lowest federal, state and foreign taxes.' As a result of those efforts, CSX reports that: In three of the past four years, CSX paid no federal income tax at all. In fact, instead of paying taxes, CSX supplemented its $934 million in pretax U.S. profits over the four years with a total of $164 million in tax rebate checks from the federal government. 'If the President's goal is to encourage even more corporate tax sheltering, then Mr. Snow looks like a fine choice to help him do so,' said Robert S. McIntyre, director of Citizens for Tax Justice."