G.E.’s Strategies Let It Avoid Taxes Altogether (FLASHBCK; they own NBC)

NYT ^

[TigerClaws]

General Electric, the nation’s largest corporation, had a very good year in 2010. Stories from Our Advertisers

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.

[TigerClaws]

Profits of over 14 billion and they owe... zero. Get a tax credit.

Yet Tea Party groups are targeted by the IRS?

Any doubt as to why NBC / CNBC are functioning as super pacs for the Democrats?

[stylin19a]

and big oil is hammered for their revenues\profits.

[huldah1776]

No doubts, including the reason for having super pacs. Shouldn’t be allowed unless someone can tell me why it is good?

[SaxxonWoods]

Judge Learned Hand, America’s first black SC Justice:

“Any one may so arrange his affairs that his taxes shall be as low as possible; he is not bound to choose that pattern which will best pay the Treasury; there is not even a patriotic duty to increase one’s taxes.”

Gregory v. Helvering, 69 F.2d 809, 810 (2d Cir. 1934)

[from occupied ga]

Its American tax bill? None. In fact, G.E. claimed a tax benefit of $3.2 billion.

They say this like it's a bad thing.

[Iron Munro]

It is the filthy politicians of both parties who make lobbying and ways to enrich themselves legal who are the true culprits.

Companies are like individuals with respect to taxes and tax laws.

If there is a legal way to not pay a tax they will use it.

Do they buy or otherwise coerce greedy and venal politicians to make laws that enable them do do that?

Of course.

That’s what the politicians want and that is why they make it legal.

[TigerClaws]

If you own the politicians who make the rules, you pay NO taxes.

If you support conservatives, you’re targeted.

Don’t see a problem with that?

[DTogo]

They say that the assertive tax avoidance of multinationals like G.E. not only shortchanges the Treasury, but also harms the economy by discouraging investment and hiring in the United States.

Selling wind turbines made in the USA and investing in tax-incentivized wind farms in the USA = investing and hiring in the USA.

NYT only thinks paying taxes to Mordor = investing/hiring.

[from occupied ga]

What part of

"Any one may so arrange his affairs that his taxes shall be as low as possible; he is not bound to choose that pattern which will best pay the Treasury; there is not even a patriotic duty to increase one’s taxes."

do you not understand?