Maybe they are taking it from all the money GE paid in taxes last year on over $5 billion in profits...
Maybe they are taking it from all the money GE paid in taxes last year on over $5 billion in profits...
lolOriginally Posted by Kyrillian
Is that the Irish Double loophole too?
I haven't seen the exact breakdown of how they got away with it. Most signs point to the way they structured losses at GE capital.
Pretty shitty that you have companies like Google and GE raking it in and paying near nothing in taxes but they want to tax people more.
I blame the laws not the companies. The shareholders demand the company maximizes profits so they do what they can to not pay taxes.
Yea I don't fault the companies at all, if I had easy access to loopholes to increase my company's bottom line it would be my fiduciary responsibility to shareholders to utilize them.
I just read these things and become furious because they keep coming back to increasing taxes on people/families making over $250,000 which is probably a non-issue for 90% of the country. My issue is you can be making that in the NYC area and you are lower middle class. But these politicians are rallying the uneducated against people making over $250,000 like we're sipping champagne on yachts all day and laughing at the poor.
Didn't they get a $3B refund even after not paying anything in the first place?
Oh, and are expenses in New York really so high that a household earning 250k a year can only sustain a lower middle class lifestyle (iirc around a 50 to 90k income)? If so, boy am I glad I live in Illinois.
Last edited by Jalexian; 04-21-2011 at 01:49 PM.
Check out the rent on any place within say 20 miles of NYC. If you find something under $1,500 it is either a 100 square foot studio or it's in a neighborhood you need a bullet proof vest for.
Add on top of that various other household bills, student loans, etc. It adds up. I would say I pay more for rent than most people reading this pay for their mortgages. And my rent is low because I rent from a family friend and I pay in cash.
Now add on top of that every business is paying higher rent prices and passing as much of that on to customers in way of higher standard prices.
NY also has a ton of gas taxes, currently I pay about 4.0599 for a gallon of gas.
I'm not trying to really preach about how hard it is living in NY. I choose to live here because I feel I can't make the money I make elsewhere. I just get angry when liberals try to make it seem like people making over $250k are the enemy and if they would just pay more in taxes the world would be a better place.
I'm sure rapists say the same thing about rape laws...
Understandable, was just wondering if you were arguing your point on adjusted life expenses or simply because those around you had more money in comparison.
And I think a more fitting analogy would be a 18 y/o statutory rapist arguing against the wording of the law, not the law itself - people making 250k'ish being the proverbial 18 year old, as compared to the truly rich being the predators such laws are written to protect against.
Last edited by Jalexian; 04-21-2011 at 07:20 PM.
I totally agree with Rich, but I'll even go further. I don't give a fuck what your cost of living is. If you're successful enough (as a private individual, not a company) to be making whatever, I don't see why you should be penalized with a higher tax rate. Taxing the fuck out of individuals isn't going to be the way to change anything for our defecit. The changes need to be made in corporate taxes. I don't think they should be taxed at a higher rate than an individual, but the loopholes need to be cut. The tax breaks for corporations are ridiculous.
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