Tax reform? We don't need no stinking tax reforms.

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J sub D
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Tax reform? We don't need no stinking tax reforms.

Post by J sub D » 25 Mar 2011, 09:56

G.E.’s Strategies Let It Avoid Taxes Altogether
The Gray Lady wrote:General Electric, the nation’s largest corporation, had a very good year in 2010.

The company reported worldwide profits of $14.2 billion, and said $5.1 billion of the total came from its operations in the United States.

Its American tax bill? None. In fact, G.E. claimed a tax benefit of $3.2 billion.
I'm becoming increasingly convinced that the biggest government hindrance of economic growth is tax code complexity, not whether the top rate is 25%, 32%, 35% or 41.37%. The whole damned abomination needs tro be scrapped.
EDIT: Oh, and the civil rights and basic human dignity thing too. - JasonL

My guess is this is the love child of some Objectivists what got excommunicated. - Warren

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