What's new
US Message Board - Political Discussion Forum

This is a sample guest message. Register a free account today to become a member! Once signed in, you'll be able to participate on this site by adding your own topics and posts, as well as connect with other members through your own private inbox!

GE: 7,000 tax returns, $0 U.S. tax bill

boedicca

Uppity Water Nymph
Joined
Feb 12, 2007
Messages
56,433
Reaction score
19,019
Points
2,250
Location
The Land of Funk
Jeffrey Immelt is getting a big payback for turning NBC into Obama-Pravda-Network.
 

WillowTree

Diamond Member
Joined
Sep 15, 2008
Messages
84,532
Reaction score
16,064
Points
2,180
Yes hymn is,, they use MSNBC as a non stop public service announcement and give secondly terrorist alerts.. "oh look! there goes an old white person:eek:"
 
OP
Xenophon

Xenophon

Gone and forgotten
Joined
Nov 27, 2008
Messages
16,705
Reaction score
3,927
Points
48
Location
In your head
They announced gains for the shareholders, for taxes only a loss.
 

Modbert

Daydream Believer
Joined
Sep 2, 2008
Messages
33,178
Reaction score
3,050
Points
48
The majority of Corporations don't pay taxes, already a well-known fact.

Obama pays more taxes than GE and Exxon combined.

Hell, I pay more taxes than GE and Exxon combined.

I wonder who made it so Corporations could get around these laws? :eusa_think:
 

Modbert

Daydream Believer
Joined
Sep 2, 2008
Messages
33,178
Reaction score
3,050
Points
48
They announced gains for the shareholders, for taxes only a loss.

The magic of Accounting. I'm learning all about it right now, it's amazing what you can do with the right amount of deferrals and tricks with the loopholes.
 

boedicca

Uppity Water Nymph
Joined
Feb 12, 2007
Messages
56,433
Reaction score
19,019
Points
2,250
Location
The Land of Funk
What a moron.

Tax accounting is done to comply with the Tax Code designed and enforced by the Federal Government. The deferrals and loopholes were put in place BY THE GOVERNMENT. It has nothing to do with GAAP accounting - and just places another big cost of compliance on businesses. If they are able to reduce their tax burden via these gimmicks, they have a fiduciary responsibility to do so.
 
Last edited:

Care4all

Warrior Princess
Joined
Mar 24, 2007
Messages
58,411
Reaction score
16,615
Points
2,220
Location
Maine
close the offshore loophole...

we should FOR ONCE all be able to agree on this...or at least, most all should be able to agree on this...
 

boedicca

Uppity Water Nymph
Joined
Feb 12, 2007
Messages
56,433
Reaction score
19,019
Points
2,250
Location
The Land of Funk
close the offshore loophole...

we should FOR ONCE all be able to agree on this...or at least, most all should be able to agree on this...

No - we shouldn't.

The U.S. has tax treaties with other countries to eliminate double taxation. If we tax overseas profits here - then expect other countries to respond in kind. At the end of the day, that hurts the U.S.

A better route would be tax reduction and simplification domestically so they aren't compelled to seek tax relief outside of the U.S.
 

Modbert

Daydream Believer
Joined
Sep 2, 2008
Messages
33,178
Reaction score
3,050
Points
48
What a moron.

Tax accounting is done to comply with the Tax Code designed and enforced by the Federal Government. The deferrals and loopholes were put in place BY THE GOVERNMENT. It has nothing to do with GAAP accounting - and just places another big cost of compliance on businesses. If they are able to reduce their tax burden via these gimmicks, they have a fiduciary responsibility to do so.

Considering you just went out and assumed what I was specifically talking about, I find it hilarious you assume without knowing. Keep trying though. :thup:
 

Care4all

Warrior Princess
Joined
Mar 24, 2007
Messages
58,411
Reaction score
16,615
Points
2,220
Location
Maine
close the offshore loophole...

we should FOR ONCE all be able to agree on this...or at least, most all should be able to agree on this...

No - we shouldn't.

The U.S. has tax treaties with other countries to eliminate double taxation. If we tax overseas profits here - then expect other countries to respond in kind. At the end of the day, that hurts the U.S.

A better route would be tax reduction and simplification domestically so they aren't compelled to seek tax relief outside of the U.S.

yes we should close the loophole that allows tens of thousands of corporations headquarter portions of their businesses in a 5000 square foot building filled with PO Boxes in Bermuda....

i don't know what taxes you are talking about, but it sounds like you are right about those and double taxation, but that is not what i would call a ''loophole'' in the first place so why they were brought up by you, i am not quite certain?
 

Ravi

Diamond Member
Joined
Feb 27, 2008
Messages
90,899
Reaction score
13,995
Points
2,205
Location
Hating Hatters
The majority of Corporations don't pay taxes, already a well-known fact.

Obama pays more taxes than GE and Exxon combined.

Hell, I pay more taxes than GE and Exxon combined.

I wonder who made it so Corporations could get around these laws? :eusa_think:
Yep, but for some strange reason this only bothers the rightwing now. :eusa_whistle:
 
OP
Xenophon

Xenophon

Gone and forgotten
Joined
Nov 27, 2008
Messages
16,705
Reaction score
3,927
Points
48
Location
In your head
Better to scrap the whole Rube Goldberg income tax and IRC altogether....You just can't polish a turd.

There certainly is lots of proof of that:

joe-biden-smirk.jpg
 

USMB Server Goals

Total amount
$350.00
Goal
$350.00

Most reactions - Past 7 days

Forum List

Top