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  1.    #1  
    Hi all,

    FYI............see link.

    take care all,


    30 companies paid 'less than zero' taxes in recent years
    By Marisa Taylor

    Bottom Line - 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.
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  2. groovy's Avatar
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    This is what happens when market-driven corporations become government-driven corporations. The fed needed a buyer for Wachovia, for example, because it was "too big to fail". In return, Wells-Fargo gets billions in tax breaks. To be fair, they did have to pay $160 million in fines for laundering money for Latin American drug cartels. So...
    IGNTNUNLMTD likes this.

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