On a campaign stop in Buffalo, New York on Monday, Sanders made some questionable statements about Verizon that didn’t sit well with Verizon’s CEO Lowell McAdam.
In Buffalo, Sanders resorted to blaming big businesses for what ails America. He said that Verizon “in a given year has not paid a nickel in taxes.” According to the Blaze, Sanders also accused the company of not reinvesting it’s profits to benefit America.
McAdam didn’t waste any time in exposing Sander’s lies. “Sander’s first accusation that Verizon doesn’t pay it’s fair share of taxes is just plain wrong,” McAdam wrote in a statement. “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.”
“Sanders also claims that Verizon doesn’t use its profits to benefit America,” McAdam wrote. “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.”
McAdam didn’t stop there. He took it to Sander’s home state of Vermont where the numbers show that Verizon alone has done more for the citizens and businesses of Vermont than Sanders has during his entire time as senator. “In Sanders’ home state of Vermont alone, Verizon has invested more than $16 million in plants and equipment and pays close to $42 million a year to vendors and suppliers, many of them small and medium-sized businesses.”
It appears that Sanders will need to re-think his strategy. Attacking companies that pay their share and re-invest in America is not a sound political strategy. “I challenge Sen. Sanders to show me a company that’s done more to invest in America than Verizon,” McAdam wrote.