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GE doesn't pay taxes.

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GE doesn't pay taxes.

Postby wrveres » Sat Mar 26, 2011 7:58 am

NYT General Electric, the nation’s largest corporation, had a very good year in 2010. The company reported worldwide profits of $14.2 billion, and said $5.1 billion of the total came from its operations in the United States. Its American tax bill? None.

In fact, G.E. claimed a tax benefit of $3.2 billion.

In a regulatory filing just a week before the Japanese disaster put a spotlight on the company’s nuclear reactor business, G.E. reported that its tax burden was 7.4 percent of its American profits, about a third of the average reported by other American multinationals. Even those figures are overstated, because they include taxes that will be paid only if the company brings its overseas profits back to the United States. With those profits still offshore, G.E. is effectively getting money back.
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Re: GE doesn't pay taxes.

Postby Neato Torpedo » Sat Mar 26, 2011 12:56 pm

And...this is a good thing? I don't get it, wr. :b
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Re: GE doesn't pay taxes.

Postby jfg » Sat Mar 26, 2011 5:38 pm

I'm guessing that most corps pay little to no taxes. My wife works at a job where she daily sees tax records of people living very well in stately homes who pay no taxes because everything is written off as business expenses. It's a joke.
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Re: GE doesn't pay taxes.

Postby Metroid » Sat Mar 26, 2011 7:33 pm

Don't hate the player...
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Re: GE doesn't pay taxes.

Postby Mookie4ever » Sat Mar 26, 2011 8:03 pm

I need a better accountant.
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Re: GE doesn't pay taxes.

Postby bleach168 » Sat Mar 26, 2011 8:31 pm

Metroid wrote:Don't hate the player...


The player makes the rules for the game through lobbyists. So I think it's safe to hate the player in this case.
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Re: GE doesn't pay taxes.

Postby wrveres » Sat Mar 26, 2011 8:35 pm

Neato Torpedo wrote:And...this is a good thing? I don't get it, wr. :b
i never said it was a good thing. Its fricking nuts.
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Re: GE doesn't pay taxes.

Postby Metroid » Sun Mar 27, 2011 2:26 am

bleach168 wrote:
Metroid wrote:Don't hate the player...


The player makes the rules for the game through lobbyists. So I think it's safe to hate the player in this case.


Lobbyists make the rules? Who knew?
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