- Joined
- Jun 23, 2009
- Messages
- 133,631
- Reaction score
- 30,937
- Location
- Bagdad, La.
- Gender
- Male
- Political Leaning
- Very Conservative
GE didn't pay any taxes this year. Fail
"We expect to have a small U.S. income tax liability for 2010," GE chief spokesman Gary Sheffer told us. How big is small? GE declined to say. The number is unlikely to ever be disclosed unless GE goes public with it, or is forced to do so.
From your source:
In other words, it might pay little bit, but, more than likely, we'll never know how much it actually paid.
Did GE pay U.S. income taxes in 2010? Yes, it paid estimated taxes for 2010, and also made payments for previous years. Think of it as your having paid withholding taxes on your salary in 2010, and sending the IRS a check on April 15, 2010, covering your balance owed for 2009.
So, the whole, "corporations don't pay taxes", bull**** is just that...bull****. Agreed?
When the nominal tax rate is 35% and the most companies pay what... 10% theres a problem.
The low end rate is 15%. I think the problem is your knowledge of the facts.
So, the whole, "corporations don't pay taxes", bull**** is just that...bull****. Agreed?
The low end rate before or after loop holes? I'm talking about the taxes of businesses who are suppose to be charged approx 35% that pay only around 10% because of loop holes and subsides.
Yeah, I agree.
Now, for 2010, U.S. corporations had profits after taxes of about $1.4 trillion (Corporations printing money). The IRS collected $225 billion gross from the corporate income tax in Fiscal Year 2009. (Corporate Skinflints). That comes to an effective tax rate of about 14%, which is well below the Chicken Little rhetoric figure of 35% one often hears trumpeted by anti-tax crusaders. Would you agree?
Wall Street plans to get smaller this summer. Faced with weak markets and uncertainty over regulations, many of the biggest firms are preparing for deep cuts in jobs and other costs.
The cutback plans are emerging even as Wall Street firms have mostly recovered from the financial crisis and are reporting substantial profits again. But those profits are not as big as they were before the crisis, and it is expected that in the coming months it will be even more difficult for firms to make money. Worries about debt in Europe and the shape that the Dodd-Frank financial overhaul rules will ultimately take, combined with the usual summer doldrums, are prompting banks to act.
nyt today, via cnbc:
Wall St Braces for Layoffs as Profits Wane
who ya gonna tax these days?
what have we come to?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?