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GE tax dodge
Posted on 3/25/11 at 7:53 am
Posted on 3/25/11 at 7:53 am
As I gear up to write a big arse check to Uncle Sam for my first quarter estimated taxes, it sure is good to know that companies that make billions only pay 3% tax compared to the butt violating ammount I pay.
www.zerohedge.com/article/ges-pathological-atavism-paying-taxes
Posted on 3/25/11 at 7:59 am to tammanytiger91
Holy shite. How did I miss this:
quote:
The head of its tax team, Mr. Samuels, met with Representative Charles B. Rangel, then chairman of the Ways and Means Committee, which would decide the fate of the tax break. As he sat with the committee’s staff members outside Mr. Rangel’s office, Mr. Samuels dropped to his knee and pretended to beg for the provision to be extended — a flourish made in jest, he said through a spokeswoman.
That day, Mr. Rangel reversed his opposition to the tax break, according to other Democrats on the committee.
The following month, Mr. Rangel and Mr. Immelt stood together at St. Nicholas Park in Harlem as G.E. announced that its foundation had awarded $30 million to New York City schools, including $11 million to benefit various schools in Mr. Rangel’s district. Joel I. Klein, then the schools chancellor, and Mayor Michael R. Bloomberg, who presided, said it was the largest gift ever to the city’s schools.
Posted on 3/25/11 at 8:59 am to tammanytiger91
I love when people's best arguements are: "But that company makes BILLIONS!"
From reading the article it seems like GE has a group of tax lawyers that know what the hell they are doing. If you could legally avoid taxes like that, you would do it too.
ETA: "legally"
From reading the article it seems like GE has a group of tax lawyers that know what the hell they are doing. If you could legally avoid taxes like that, you would do it too.
ETA: "legally"
This post was edited on 3/25/11 at 9:01 am
Posted on 3/26/11 at 9:13 pm to tammanytiger91
the protesters in NY today were pissed that Bank of America had not paid any taxes in 2010. Why should they? Who do they think they are, GE!
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