You paid more in taxes than America's largest corporation
 

http://www.good.is/post/how-american...taxes-in-2010/
And by comparison a nifty picture slide show of what the top 25 businesses in America paid.
http://www.forbes.com/2010/04/01/ge-...xes_slide.html

I read that this morning in the NY Times....been chewing on it all day....the story goes along perfectly with the book I just finished reading.

Winner Take All Politics by Jacob Hacker.

We don't have a Republic anymore...and it stopped being "by the people, for the people" a LONG time ago. Our government is own by large corporations.

Top story on Huffpost is about corporations making the biggest profits ever while everyone else is getting fucked, which also ties in nicely.
http://www.huffingtonpost.com/2011/0..._n_840538.html

America. Fuck yea.

Overall the tax rates are pretty comparable to what tax payers pay. Some companies have special circumstances whee they dont pay anything but so do many tax payers.

They shouldn't have to pay American taxes on income generated overseas that stays overseas. Of course with America having a combined state and federal corporate tax rate that is one of the highest in the world it effectively guarantees that income will never be coming back.

Yeah...I'm mean look at Hungary...they are taxing half of what we tax.
How the fuck are we ever going to compete? Look what happened to Japan!? They tax more then we do and Japan's industry is non existent because all those Japanese companies went to Hungary and Latvia

Unless we talk about effective tax rates...where compnayies such as GE or BOA pay 3 bucks a year....then we totally rock Hungary.
and just about everybody else

What % of GE's global income was generated overseas?

They lost a few billion here in the US and made a few billion more than they lost overseas. Basically any money that they actually made as profit was generated overseas, and their overseas ventures propped up their US busineses.

The Forbes article Kaneman posted says GE specifically has $84 billion in income they are keeping overseas indefinitely. You can dismiss the idea but the effect is real.:shrug:

And are 100% of those overseas operations able to operate without any help from people here in the US........kinda doubt it

Sick of GE.......they think their shit doesn't stink ever since Welch wrote that management book 15-20 years ago. And HR idiots from other companies ate it hook line and sinker.