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

American said:

Why doesn't this happen to me?

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Because you play by the rules too much, or you don't play by the rules enough, depends on how you look at it.

obvious Child said:

Not really. Corporations generally don't pay income tax. Well, technically they pay it, but they are really just passing the costs on to consumers. Therefore, the consumer (and intermediaries) is paying an additional 35% sales tax.

Businesses offshore because of labor and environmental reasons. Taxes is not really the issue.

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No.... businesses offshore for tax reasons as well. No major company pays the full rate of corporate taxes. I suggest you study some 10K's.. and, for reasons discussed above, companies can not merely pass taxes along to the consumer... that is myth.

upsideguy said:

No.... businesses offshore for tax reasons as well.

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Sure, but they aren't primary reasons. Much of the relocation to Ireland in the past decade was because labor was cheap and skilled, the low corporate tax was merely a boom. Furthermore, the local governments were willing to pay for the infrastructure. I do find it amusing so many anti-government but pro-business people fail to realize that big business these days is living off the public dime.

No major company pays the full rate of corporate taxes.

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Of course they don't.

I suggest you study some 10K's.. and, for reasons discussed above, companies can not merely pass taxes along to the consumer... that is myth.

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That depends. Some taxes they can and some they can't. Further more, it depends on the level of competition in the market. If all players pass on the taxes, there's no problem.