Show Me the Money! Quiz

"Show Me the Money!" Quiz
by Jonathan Hutson

1. Which of the following paid the SMALLEST PERCENTAGE OF INCOME in federal income taxes from 1996 through 1999?
(a) A U.S. Army Corporal deployed overseas
(b) Enron
(c) A public high school teacher

2. Which of the following paid THE FEWEST DOLLARS in federal income taxes from 1996 through 1999?
(a) A Legal Aid lawyer
(b) Enron
(c) A homeless woman receiving minimum wage in a welfare-to-work program

3. Which of the following departments did Enron view as a profit center?
(a) Sales
(b) Tax
(c) Both of the above

Answers for questions 1-2: (b) and (b) Although Enron ranked # 51 on the 1999 Forbes 500, with reported profits of $703 million, the company paid 0% of its income (U.S. $0), in federal income taxes from 1996 through 1999, according to a report issued by the House-Senate Joint Committee on Taxation on February 13, 2003.

Answer to question 3: (c) Enron's tax department became a profit center, with its own annual revenue targets, the joint Congressional report says. "Show Me the Money!" is emblazoned on an internal Enron document regarding a transaction, one of a trove released by the committee in its 3-volume report.