Facebook: More Obamian crony capitalism

[TheGreatGatsby]

Facebook Gets a Multibillion-Dollar Tax Break - Businessweek

Apparently FB are not only not paying taxes; they are getting a $429 million refund. Meanwhile, I need to "pay my fair share."

 

[Mr. H.]

...but there’s nothing illegal about the breaks the company is claiming. Companies like Facebook are allowed to treat the cost of non-cash compensation, such as stock options, as an expense that reduces profits, essentially the way they treat cash compensation such as salaries.

http://www.irs.gov/taxtopics/tc427.html

 

[Politico]

They followed the same tax laws available to you.

 

[TheOldSchool]

I know it's horrible! Cronyism at its worst! Especially because the Vice President used to be CEO of Facebook! I mean Halliburton. Oh and it was the last VP.

Disgraceful

 

[TheGreatGatsby]

I know it's horrible! Cronyism at its worst! Especially because the Vice President used to be CEO of Facebook! I mean Halliburton. Oh and it was the last VP.

Disgraceful

I'm sorry. During the OP was I saying that Obama wasn't living up to the Dubya gold standard? Stop deflecting ass wipe and defend your god more directly.

 

[kiwiman127]

Facebook: More Obamian crony capitalism

Facebook Gets a Multibillion-Dollar Tax Break - Businessweek

Apparently FB are not only not paying taxes; they are getting a $429 million refund. Meanwhile, I need to "pay my fair share."

Another stupid thread based on partisan hackery instead of real life. Obama Cronyism? Does that mean that through all the decades that companies have avoided paying taxes, it was who ever was president that was practicing "crony capitalism"? Or is it just now, that it is "crony capitalism"?

 

[OohPooPahDoo]

Facebook Gets a Multibillion-Dollar Tax Break - Businessweek

Apparently FB are not only not paying taxes; they are getting a $429 million refund. Meanwhile, I need to "pay my fair share."

Actually Democrats are opposed to the section of the tax code that allows this - which has existed in the code since before Obama grew pubes.

It began last year, when Senator Carl Levin, a Democrat from Michigan, made it his own personal crusade to wipe I.R.C. § 83(h) from the code, decrying it as a “loophole.”

How The Tax Code Grew To 70,000 Pages: Dems Seek To Limit 'Facebook' Deduction for Stock Based Compensation - Forbes
So shut the fuck up you lying piece of shit idiot.


Besides - as the article I linked points out - THERE IS NO NET LOST TAX REVENUE. The losses that FB realizes are GAINS by the employees they paid the compensation to - and those employees will have exactly that much more income - all taxable.

 

[TheGreatGatsby]

Facebook: More Obamian crony capitalism

Facebook Gets a Multibillion-Dollar Tax Break - Businessweek

Apparently FB are not only not paying taxes; they are getting a $429 million refund. Meanwhile, I need to "pay my fair share."

Another stupid thread based on partisan hackery instead of real life. Obama Cronyism? Does that mean that through all the decades that companies have avoided paying taxes, it was who ever was president that was practicing "crony capitalism"? Or is it just now, that it is "crony capitalism"?

I'm a partisan hack? If this happened with Bush, you'd be crying your eyes out. Maybe you should try taking yourself more seriously. Others will follow.

 

[EdwardBaiamonte]

Or is it just now, that it is "crony capitalism"?

its just now since Barry is a crony capitalist socialist of the highest order. He took over 20% of economy with BO care for example. Do you think with libturds in bed running and regulating those companies that will lead to more or less corruption??

See why we say a liberal will have a very low IQ???