A billion dollars into Federal Coffers?

At a pep rally that Senator John McCain orchestrated on behalf of Resolution Copper at the Superior High School in 2009, he stated publically that the mining project would be putting one billion dollars in the Federal coffers? Hoorah! Hoorah!

Ater the spectacle of general misinformation about jobs and royalties, I [Nancy Freeman] was speaking privately with the Operations Manager, David Salisbury. I mentioned to him McCain's claim that the project would be putting a billion into the Federal coffers. For example, I had checked the annual report of Kennecott*, another Rio Tinto project in Salt Lake, and found that the company, although the biggest pit in U.S. in fact did not show any money paid to the U.S. Federal Government. Mr. Salisbury candidly replied, "Well, it is true, like all other corporations, we will not be paying any Federal taxes. When we mention the Federal taxes are going to be a billion, we are referring to the Federal income taxes our employees will be paying."

I will leave it to your assessment as to whether John McCain was misleading the public.

*Bingham Canyon Mine has produced more copper than any mine in history—about 18.7 million tons.