Corporate Giant G.E. Avoids Paying Taxes in 2010
The other day I commented here on an article from www.crooksandliars.com. The website seems sketchy because they're heavily opinionated, giving you the sense that they sensationalize their stories in order to bring traffic to their site.
Well, as it turns out, they probably weren't so far from the truth after all when they reported that major U.S. corporations have avoided paying taxes for 2010 by finding loopholes within the system. Their article included companies such as Bank of America and GM, which, of course, were part of the bailouts in 2008. The New York Times is now reporting that corporate giant, G.E., is paying less than most of us paid the I.R.S. in taxes for the year 2010.
It seems odd to me that The New York Times is only going after G.E., though. Perhaps they don't know about the other companies doing the same thing G.E. is doing, or maybe they have a conflict of interest in reporting about them. Perhaps Crooks and Liars reported inaccurately some companies in their article, too. Who knows? I don't know, but what I do know is that G.E. is linked to those two articles, and is not a good thing.
As a citizen, I'm willing to do whatever it takes to help our country get back on its feet and pay off its debts, including paying more on taxes. But if companies such as these are avoiding paying billions in taxes, then are we ever going to get there? Economic recovery will start once these companies pay their dues, in my opinion.
If they are not paying taxes, why should I? Hey, G.E. accountants, hit me up in the comments; I need your numbers.
Well, as it turns out, they probably weren't so far from the truth after all when they reported that major U.S. corporations have avoided paying taxes for 2010 by finding loopholes within the system. Their article included companies such as Bank of America and GM, which, of course, were part of the bailouts in 2008. The New York Times is now reporting that corporate giant, G.E., is paying less than most of us paid the I.R.S. in taxes for the year 2010.
It seems odd to me that The New York Times is only going after G.E., though. Perhaps they don't know about the other companies doing the same thing G.E. is doing, or maybe they have a conflict of interest in reporting about them. Perhaps Crooks and Liars reported inaccurately some companies in their article, too. Who knows? I don't know, but what I do know is that G.E. is linked to those two articles, and is not a good thing.
As a citizen, I'm willing to do whatever it takes to help our country get back on its feet and pay off its debts, including paying more on taxes. But if companies such as these are avoiding paying billions in taxes, then are we ever going to get there? Economic recovery will start once these companies pay their dues, in my opinion.
If they are not paying taxes, why should I? Hey, G.E. accountants, hit me up in the comments; I need your numbers.
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