Now, for 2010, U.S. corporations had profits after taxes of about $1.4 trillion (Corporations printing money). The IRS collected $225 billion gross from the corporate income tax in Fiscal Year 2009 (Corporate Skinflints). That comes to an effective tax rate of about 14%, which is well below the Chicken Little rhetoric figure of 35% one often hears trumpeted by anti-tax crusaders. Would you agree?
Last edited by Ahlevah; 06-17-11 at 12:02 AM.
speaking of ge...
Obama Picks Jeffrey Immelt, GE CEO, To Run New Jobs-Focused Panel As GE Sends Jobs Overseas, Pays Little In Taxes
obama's an idiot, he doesn't know what he's doing
nyt today, via cnbc:
Wall St Braces for Layoffs as Profits WaneWall Street plans to get smaller this summer. Faced with weak markets and uncertainty over regulations, many of the biggest firms are preparing for deep cuts in jobs and other costs.
The cutback plans are emerging even as Wall Street firms have mostly recovered from the financial crisis and are reporting substantial profits again. But those profits are not as big as they were before the crisis, and it is expected that in the coming months it will be even more difficult for firms to make money. Worries about debt in Europe and the shape that the Dodd-Frank financial overhaul rules will ultimately take, combined with the usual summer doldrums, are prompting banks to act.
who ya gonna tax these days?
what have we come to?
Last edited by The Prof; 06-17-11 at 09:44 AM.
“I think if Thomas Jefferson were looking down, the author of the Bill of Rights, on what’s being proposed here, he’d agree with it. He would agree that the First Amendment cannot be absolute.” - Chuck Schumer (D). Yet, Madison and Mason wrote the Bill of Rights, according to Sheila Jackson Lee, 400 years ago. Yup, it's a fact.