"The Biggest Tax Scam Ever"

[Pio1980]

Originally Posted by merrylander

And blame SCOTUS for declaring that the 1st amendment supports lobbying because it does not, but then I was taught English in school.

And so is libel thru falsehood according to them, someone can lie their ass off without worry to discredit someone and sell their bullshit.

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[merrylander]

Considering that we have the finest Congress money can buy I am sure that their masters could change the tax code anytime they wished. GE did not pay one cent in taxes last year.

[Dondilion]

Originally Posted by merrylander

GE did not pay one cent in taxes last year.

Geeze!

[finnbow]

Originally Posted by merrylander

GE did not pay one cent in taxes last year.

This is a bit misleading and has nothing to do with ongoing tax inversions. The reason they didn't pay taxes a couple of years back is that their GE Capitol subsidiary lost immense amounts of money in the real estate crash which offset the earnings in their other market segments.

[Rajoo]

Originally Posted by finnbow

This is a bit misleading and has nothing to do with ongoing tax inversions. The reason they didn't pay taxes a couple of years back is that their GE Capitol subsidiary lost immense amounts of money in the real estate crash which offset the earnings in their other market segments.

They have been doing this for years. Google GE and pick a recent year. Here is one of the recent years, 2013.

The company with the most profits parked overseas is General Electric, according to a new Bloomberg analysis of 83 corporations.

Apple also does something similar. To a degree this is legitimate keeping their offshore operations and profits separate, but this is accounting gimmicks gone awry just to be able to report taxable income close to nothing. Small businesses do not have this advantage, so we continue to pay through our noses.

[finnbow]

"With the highest corporate income tax rate among [advanced] nations and the double taxation of international operations, the United States with its tax code has made itself increasingly uncompetitive as we vie for companies to locate and to expand operations here,” writes Michael Faulkender, an associate professor of finance at the University of Maryland.

http://www.csmonitor.com/USA/DC-Deco...needs-Congress

[merrylander]

Well the companies that sent jobs offshore are now in a bind;

Shipping is costly and slow

Quality control is difficult if not impossible

Innovation is impossible when you are not actually building the product