30 companies paid 'less than zero' taxes in recent years

General Electric made big waves earlier in the year when The New York Times reported that the company paid no taxes in the U.S. in 2010, and in fact claimed a tax benefit of $3.2 billion.

How could a company that made $14.2 billion in profits worldwide avoid paying taxes? G.E. wasn’t the only one, according to a new report released on Thursday by the Citizens for Tax Justice and the Institute on Taxation and Economic Policy. The two advocacy groups, which could be fairly described as left-leaning, claim that among the 280 most profitable U.S. companies, 30 of them paid “less than zero” in taxes in the last three years, and 78 of the companies didn’t pay any federal income tax in at least one of the last three years.

How you like them apples?

Source

Well, in the current economic circumstances, you don't want the biggest companies been held down by tax. Low tax = lower price of product, which probably generates more money than if they were taxed.

Some paid -58%. Yes, that's negative 58%.

www.marketwatch.com...

Good for them they shouldn't have to pay taxes because they are the infamous "job creators". It might be a good idea for everyone to become a corporation that way no one will have to pay taxes.

Originally posted by ShedAlert
Well, in the current economic circumstances, you don't want the biggest companies been held down by tax. Low tax = lower price of product, which probably generates more money than if they were taxed.

Shill alert. GTFO with your BS propaganda.
All the republicans and corporations have been saying for the past 3 years is that if taxes were lower, corporations would be able to generate jobs.
We are paying them instead of them paying us taxes, yet they still don't generate jobs.
You can't say they were being held back by taxes the past few years, or that prices have remained low, because prices have been rising a lot the past year. And they are still being paid in taxes.


This is absurd. And everyone's just going to take it *&%#@^*(%.

Originally posted by v1rtu0s0
Some paid -58%. Yes, that's negative 58%.

www.marketwatch.com...

edit on 3-11-2011 by v1rtu0s0 because: (no reason given)

This entails overhangs which are used as write offs in the subsequent years... Perhaps everyone should incorporate!

Originally posted by buster2010
Good for them they shouldn't have to pay taxes because they are the infamous "job creators". It might be a good idea for everyone to become a corporation that way no one will have to pay taxes.

Yeah, plus you could write off use of an accountant, work in a couple of offshore accounts, and presto... We're all able to cheat the system!

Originally posted by Ghost375

Originally posted by ShedAlert
Well, in the current economic circumstances, you don't want the biggest companies been held down by tax. Low tax = lower price of product, which probably generates more money than if they were taxed.

Shill alert. GTFO with your BS propaganda.
All the republicans and corporations have been saying for the past 3 years is that if taxes were lower, corporations would be able to generate jobs.
We are paying them instead of them paying us taxes, yet they still don't generate jobs.
You can't say they were being held back by taxes the past few years, or that prices have remained low, because prices have been rising a lot the past year. And they are still being paid in taxes.


This is absurd. And everyone's just going to take it *&%#@^*(%.

It is amusing how some will try and equate job creators to lax corporate tax code.

reply to post by Ghost375
Calm down, did you see the words 'which probably' with all that red in your eyes? I am not saying it's fact, I am saying it makes sense.

I think a protest will fix this!!

Originally posted by topdog30
I think a protest will fix this!!

What else are you going to do? Let it slide until their combined profits far exceed the Nation's GDP? We're already headed that way now along with destroying natural resources in the process.

Only 30?

Those other companies must be stupid or maybe not big enough.

reply to post by Ghost375


Ghost375 has my respect on this one. i think it's time to start calling these guys out.
too many threads ruined by sidetracking and b.s.

I was going to start a business to get ahead and even hire a few people, until I learned that profit is viewed as evil.

luckily obama appointed the CEO of GE as jobs czar so that he can spread his business model of tax loopholeing and job outsourcing to the whole country!

awesome.