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How GE avoids paying any tax...great read

Adam Howard

Well-known member
#1
http://www.nytimes.com/2011/03/25/business/economy/25tax.html?_r=1

How is it big businesses like GE (General Electric) can avoid paying ANY taxes, while the rest of us are all struggling to get by? (I know how, but it shouldn't be this way).

I guess I must keep missed the ad in The Sunday News Paper...

"Government for rent and lease

Must be willing to meet in secret and generally lie to the public. The willingness to sell out the general public is an added plus.

Requirements are simple. Must present open ended, blank check or lump sum of cash. Open ended, blank check preferred, but will accept lump sum of cash.

Only the rich need apply."
 

physicspirate

Well-known member
#2
Well if you lobby enough you can get whatever you want. Invest a couple billion into buying the laws that make it profitable for you, sit back, and drink a margarita.
 

Peggy

Well-known member
#3
How to any of these companies get away with what they do? Seriously??

Look at PNC Bank. they took a huge chunk of that bail out money from the government. What did they do? They turned around and bought out National City bank! Say what??? No way should that have been permitted.

Big business sucks imo.
 

Digital Doctor

Well-known member
#4
How to any of these companies get away with what they do? Seriously??
Because the American economy is corrupt and broken beyond repair.

Such strategies, as well as changes in tax laws that encouraged some businesses and professionals to file as individuals, have pushed down the corporate share of the nation’s tax receipts — from 30 percent of all federal revenue in the mid-1950s to 6.6 percent in 2009.
I pay 50% !

Spineless Obama didn't have the guts political power to reverse the Bush Tax Cuts.
Sad indeed.