> If this sort of thing happens after the changes go through (GE etc.)
You're WAY more optimisitic than me to even think there's a chance GE won't get a big break again next year.
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the Times reports, only 6.6% of Uncle Sam's tax revenue comes from corporations (down from 30% in the 1950s).
I was wrong about GE paying no taxes... it was worse.. they got 3.2 billion in tax "benefits"! We paid them! Their taxes should have been 4.26 Billion (30% x 14.2 Billion in profit for 2010 = 4.26 billion). Now , if they didn't get that "benefit" and instead PAID their taxes that itself would account for 7.4 billion in lost taxes. One company. How many other examples are there?
GE didn't pay any US taxes in 2010. In fact, it got a tax benefit of $3.2 billion.
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It's no coincidence that President Barack Obama installed GE's chief executive as the head of his new Council on Jobs and Competitiveness. One key subject the council is expected to address is taxes.
Cronyism. Corruption. Only the government can get away with this kind of crime. But you're right, next year might be different.
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Re: Yeay! Both houses agree on a pile of crap!
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Yeay! Both houses agree on a pile of crap!
