Don't misunderstand me here...I do not agree with this LEGAL practice. Considering we lost our proverbial shirt last year and had to pay 10000% more taxes than GE's Billions in profit warranted.....
However....Business is not in the business of providing jobs....sorry, it's true. They are in business to MAKE MONEY. If in doing so they can provide jobs, benefits etc..etc....Great! But Business 101...MAKE MONEY....of course they are going to take advantage of everything they can...if they are smart...
Many of this country’s biggest companies paid no federal taxes — or even made money through credits and refunds from the government — over the past three years by using an array of loopholes and tax breaks, according to a report released Thursday.
The authors examined the finances of 280 corporations from 2008 through 2010 and found that 30 paid zero taxes or used loopholes to wind up with negative tax rates. Local utility Pepco Holdings paid the lowest rate of all the firms investigated, clocking in at nearly minus 58 percent.
Thursday, November 03, 2011
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