Thursday, November 17, 2011

Those are some sweet loopholes!

GE pays no taxes on $14 billion in profits (and takes 57,000 pages to report it).

Ok, nothing wrong with tax avoidance (as opposed to tax evasion). But why should GE also be getting billions of dollars in export and wind-farm subsidies, plus legislation tailored to favor its investments, all in addition to tax breaks? I mean, it's almost like a quid pro quo or something.
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8 comments:

  1. YojimboNovember 17, 2011 at 8:36 PM

    alexcrThat's still zero tax dollars per tax return page.

    It would be interesting to see how many of the big Obama factories are actually being audited. Most large corps are/or were audited on a continual basis by "large case"personnel.

    Wonder what the audit standards are for corps like GE, GM and Google?

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  2. RebeccaHNovember 18, 2011 at 12:40 AM

    As if we didn't know already, I think we can begin to see why "green energy" has been pushed so energetically by this administration. It doesn't have anything to do with "saving the planet", despite the regime's protestations. It's graft, pure and simple. And it's past time we started pinning that red letter on the worst big business/big government bedmates.

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  3. richard mcenroeNovember 18, 2011 at 10:23 AM

    Do you seriously think the IRS audits a 57,000 page tax return?

    ReplyDelete
  4. mojoNovember 18, 2011 at 12:16 PM

    Donation to Barrack Obama (D):"US Government", half a mil and change? WTF, over?

    SB: ingso
    You forgot the "c"

    ReplyDelete
  5. YojimboNovember 18, 2011 at 4:19 PM

    At one time they did do those returns because I have seen them in the Quality Review section.

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  6. AnonymousNovember 18, 2011 at 4:48 PM

    Make $14 mill and pay no taxes!?! Then all of us shouldn't pay anything either! Maybe I'll file my taxes with a little umbrella attached. Makes me almost mad enough to start a movement or something!

    And I lost my lightbulbs!

    Deborah Leigh

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  7. AnonymousNovember 18, 2011 at 4:52 PM

    Richard, you have to read the 57,000 pages to find out what is in it. This means that if we file our returns in thick binders....

    How many trees did it take? Not to mention the carbon credits...er..payoffs?

    Deborah Leigh

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  8. AnonymousNovember 18, 2011 at 4:53 PM

    OOPS! My earlier comment should have been "bil" not "mil". My brain is having a hard time thinking in billions, so you know what trillions are doing. It's like considering the size of the universe.

    Deborah Leigh

    ReplyDelete

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