Thirty companies paid no income tax 2008-2010: report

Discussion in 'Politics' started by Bass v 2.0, Nov 3, 2011.

  1. Bass v 2.0
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    Bass v 2.0 Biblical Warrior For God.

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  2. Douger
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    Douger BANNED

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    See there ? Your masters already had it removed.
     
  3. The Rabbi
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    The Rabbi Diamond Member

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    Actually I wonder why people are so fucking stupid.
    Yes, lets discourage R&D so we can have an economy like E.Germany. The companies could not have been profitable because if they were profitable they would have paid tax. It's like GE. GE took huge losses in its Capital unit and then used the losses forward to offset profit in subsequent years. That isn't a loophole, that's the accounting law. Who decided that? It wasnt corporations, it was the gummint.
     
  4. editec
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    editec Mr. Forgot-it-All

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    Pretty much says it all, doesn't it?
     
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  5. The Rabbi
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    The Rabbi Diamond Member

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    Yup. Best argument for a simplification and cut in the corporate tax rate out there.
     
  6. Mad Scientist
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    Mad Scientist Deplorable Gold Supporting Member Supporting Member

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    The story refers to "the report" but doesn't provide a link to it (unless I just missed it) Could someone post it?

    G.E. is listed and I know they're on the President's Economic Council.
     
  7. eflatminor
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    eflatminor Classical Liberal

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    So let me get this straight. 30 companies paid the exact amount of tax required under the law (according to those 70,000+ pages of IRS code). They paid EXACTLY what the law required of their particular financial situation and whether they benefited from loopholes or not, they followed the letter of the law.

    If that pisses you off (that they paid no tax), why are you angry at them (the one's that followed the law) and not the politicians that wrote the IRS code and put into place the loopholes that benefited some industries and/or companies over others?

    They should be occupying Washington DC.
     
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  8. Mr Clean
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    Mr Clean Gold Member

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    Those companies and industries paid our elected officials big money to get things to go their way.
     
  9. CrusaderFrank
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    CrusaderFrank Diamond Member

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    OWS is protesting GE's tax breaks?

    For real?
     
  10. eflatminor
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    eflatminor Classical Liberal

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    That may be true in some cases (not all companies have lobby at the federal level), but you're point is valid. So, why aren't you piss enough at the politicians that accepted that big money to write tax code and other laws to the benefit of those companies that you STOP voting for big government central planners? We keep voting into office crony politicians from both parties and then we're surprised when they act like big government central planners.

    When government meddles in business, there will ALWAYS be those ready to contribute to re-election campaigns in exchange for a favor. When government lives within the confines of the Constitution, there is no ability for politicians to meddle outside of a few enumerated powers. Crony problem solved. Tax inequity problem solved.
     

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