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Thread: G.E.ís Strategies Let It Avoid Taxes Altogether

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    Re: G.E.ís Strategies Let It Avoid Taxes Altogether

    Quote Originally Posted by digsbe View Post
    There is a partisan issue in regards to GE though. They are actually paid by the government and pay no taxes. The tax rate for corporations in America is far too high, and Obama believes this as well. Obama plans on reducing the tax burden on corporations and eliminating certain loopholes. The man he appointed to the President’s Council on Jobs and Competitiveness as its leader is none other than the CEO of GE who is a pro at avoiding taxes and manipulating the government. I smell corruption among the Obama administration.

    Some of that loopholes were signed in by the Bush administration. According to the article, GE benefited $1billion from that in 3 years. Basically the whole government, Republicans and Democrats (representatives from both sides in New York seem to have benefited from GE's "donation", the company seems to be filled with previous government worker who wrote the tax code), are corrupt if we are honest.

    As I read the story, I keep thinking about the Supreme Court decision about corporation being "individual" when it comes to political donation - I think all 3 branches of government are compromised at this point.
    Last edited by nonpareil; 03-26-11 at 09:23 AM.
    Quote Originally Posted by Free_Radical View Post

    And I wasn't making an appeal to authority, I was making an appeal to the philosophical body of work of the founders, the worth and content of which should be well-known to anyone with a cursory understanding of basic history and philosophy.

    Brian

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    Re: G.E.ís Strategies Let It Avoid Taxes Altogether

    Quote Originally Posted by Marshabar View Post
    The United States, thanks to greedy politicians of all stripes, has become a Corporatocracy.

    The sign I carry when I carry a sign reads: Term Limits Now. I believe our biggest problem is career politicians. They become monsters.


    It'd be nice if instead of buying politicians the corporations could only rent the little fish for a few years.

    Then they learn all the cogs and wheels and go work for those corporations the same way. I think career politicians, those who believe their life goal is to serve the public is much better than those who only see it as a stepping stone to something else.
    Quote Originally Posted by Free_Radical View Post

    And I wasn't making an appeal to authority, I was making an appeal to the philosophical body of work of the founders, the worth and content of which should be well-known to anyone with a cursory understanding of basic history and philosophy.

    Brian

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    Re: G.E.ís Strategies Let It Avoid Taxes Altogether

    In February 1988, Capitol Police carried Senator Bob Packwood feet first into the Senate chamber. This occurred after the Senate ordered the arrest of absent senators to maintain a quorum during a filibuster on campaign finance legislation.
    http://www.c-spanvideo.org/program/S...860/stop/40977

    Notice the cast on the Senators arm in the above video, he earned that fighting campaign finance reform.

    http://www.c-spanvideo.org/program/S...5928/stop/8458

    In the above video, Senator Byrd mentions the Russians leaving Afghanistan just before he goes into the campaign finance reform business.

    Weird that now we are the ones in Afghanistan and campaign finance is pretty darn messed up.

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    Re: G.E.ís Strategies Let It Avoid Taxes Altogether

    Quote Originally Posted by apdst View Post
    No doubt, but I hope that it doesn't cause us to jump from the frying pan, into the fire.

    Case in point: on another forum, a poster stated that there should be a 25% flat tax for corporations, on the gross revenue. I got a temp ban for simply telling that person how ****ing idiotic she really was.



    I sure as hell don't. I do it all the time. I wish Shewolf would share some info on how a corporation can get a tax refund.
    On the gross revenue. Now that is moronic.
    Nobody who wins a war indulges in a bifurcated definition of victory. War is a political act; victory and defeat have meaning only in political terms. A country incapable of achieving its political objectives at an acceptable cost is losing the war, regardless of battlefield events.

    Bifurcating victory (e.g. winning militarily, losing politically) is a useful salve for defeated armies. The "stab in the back" narrative helped take the sting out of failure for German generals after WWI and their American counterparts after Vietnam.

    All the same, it's nonsense. To paraphrase Vince Lombardi, show me a political loser, and I'll show you a loser.
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    Re: G.E.ís Strategies Let It Avoid Taxes Altogether

    Quote Originally Posted by washunut View Post
    Does Microsoft have anything t do with MSNBC anymore?
    They're not partners on the MSNBC TV station anymore, but back when Bush was President, they were. I believe NBC bought them out.

    They're still partners on the MSNBC Web site.



    "I have been thinking that I would make a proposition to my Republican friends... that if they will stop telling lies about the Democrats, we will stop telling the truth about them."
    --Adlai Stevenson, Politician





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    Re: G.E.ís Strategies Let It Avoid Taxes Altogether

    Quote Originally Posted by apdst View Post
    You're going to have to start a thread showing us how to do that. I never heard of a corporation getting a refund.
    It's easy if you are an LLC or sole proprietor... Report you're earnings on Schedule C, and report your taxes on line 56 on the 1040 Form. You can also adjust your income by half of your business taxes... On top of that, you are eligible for any of the refundable tax credits on lines 61 to 72 on the 1040.

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    Re: G.E.ís Strategies Let It Avoid Taxes Altogether

    Quote Originally Posted by SheWolf View Post
    It's easy if you are an LLC or sole proprietor... Report you're earnings on Schedule C, and report your taxes on line 56 on the 1040 Form. You can also adjust your income by half of your business taxes... On top of that, you are eligible for any of the refundable tax credits on lines 61 to 72 on the 1040.
    Not all businesses are elligible for tax credits. Right?

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    Re: G.E.ís Strategies Let It Avoid Taxes Altogether

    Quote Originally Posted by apdst View Post
    Not all businesses are elligible for tax credits. Right?
    Why wouldn't they be? If you report on the 1040, you'd be eligible for those credits... You might not be eligible for business credits, but you might still be eligible for personal credits on the 1040. I am not saying that every business will get a refund or should, and you can qualify for a credit but it may not be enough to net you a refund, just lowers your taxable income. Sometimes a company gets a refund though.

    The tax form for large corporations, with publicly traded stock, is Form 1120.

    http://www.irs.gov/pub/irs-pdf/f1120.pdf

    Refundable credit amounts are listed on lines 30 - 36 on that form..

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    Re: G.E.ís Strategies Let It Avoid Taxes Altogether

    Quote Originally Posted by StillBallin75 View Post
    Not that I disagree with you, but do you have any evidence to back this up, and that it has ONLY been Republicans who have done this?
    Of course it hasn't only been Republicans, it's just that it's the raison d'etre of today's Republican Party and at least philosophically antithetical to Democrats. But given that the GOP has been monotonously demanding and providing a bottomless supply of new corporate tax cuts for thirty years, and still claims that somehow we have a "hostile business climate" (i.e., they're not allowed to enslave people or hire 5-year-olds) what is the source of your doubt? I'll find the information if you can articulate what you're specifically asking for.

    Quote Originally Posted by apdst View Post
    I would love to know what those loopholes are, so I can not pay taxes, too.
    It's pretty simple: If you're rich, you can find a way to avoid paying taxes. And if anyone complains, they're a "socialist" who shouldn't be allowed to vote. That's the GOP's ongoing plan for America.

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