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GE Filed 57,000-Page Tax Return, Paid No Taxes on $14 Billion in Profits
weekly standard ^
| 11/17/11
| JOHN MCORMACK
Posted on 11/17/2011 12:28:10 PM PST by OPS4
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To: OPS4
Maybe I'm missing something here. But
IF GE actually had $14 Billion in profit, wouldn't that be passed on to the owners of GE, the shareholders. If dividends are paid, then the owners/shareholders would then pay capital gains tax.
Unless of course the owners shelter that gain somehow, like Warren OCBuffet has all these years.
Sounds pretty much like business as usual for any company, no matter what side the political spectrum they might lean.
21
posted on
11/17/2011 5:32:31 PM PST
by
mountn man
(Happiness is not a destination, its a way of life.)
To: All
22
posted on
11/17/2011 5:33:42 PM PST
by
musicman
(Until I see the REAL Long Form Vault BC, he's just "PRES__ENT" Obama = Without "ID")
To: mountn man
At times companies can deduct losses, costs, depreciation and also get breaks for investing in green this or that.
Plus if they reinvest back in themselves that is deductible.
Also, maybe they can deduct past losses over time and that also could have allowed no taxes this year.
23
posted on
11/17/2011 5:38:26 PM PST
by
A CA Guy
( God Bless America, God bless and keep safe our fighting men and women.)
To: justlurking
24
posted on
11/17/2011 5:40:40 PM PST
by
ex91B10
(We've tried the Soap Box,the Ballot Box and the Jury Box; one box left.)
To: A CA Guy
In other words, they did what every other major corporation does, and what every normal person does. They took advantage of the tax laws to benefit themselves as much as possible.
Imagine somebody being accused of impropriaty for claiming their deserved dependent deductions on the 1040 forms.
If its legal and other companies live by the same rules, the only crime here is that the media has decided to make it a crime.
Just think, if I would have bought 100 shares of GE in the last year, I could have shared in that profit too.
Maybe I'll buy 100 shares this year.
NAAAAHHHHH!!!!! Its easier just to whine and complain about those who do.
25
posted on
11/17/2011 5:59:05 PM PST
by
mountn man
(Happiness is not a destination, its a way of life.)
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