On 11/18/2011 11:12 AM, Hawke wrote:
On 11/17/2011 8:30 PM, Benny Fishhole wrote:
On Thu, 17 Nov 2011 23:13:37 -0500,
wrote:

http://www.weeklystandard.com/blogs/ge-filed-57000-page-tax-return-paid-no-taxes-14-billion-profits_609137.html


General Electric, one of the largest corporations in America, filed a
whopping 57,000-page federal tax return earlier this year but didn't
pay taxes on $14 billion in profits. The return, which was filed
electronically, would have been 19 feet high if printed out and
stacked.

...


ignoring the innuendo attempted trolling there are at least three things
wrong with this - the size of the tax return (how much does it cost to
prepare a 57.000 page return?), the disproportionality, and the
accounting methods that can turn profit into loss.

That said, there is a fine argument to be made that corporations should
not pay taxes on business profits, only on real-estate and other assets.
tax profits only when they are distributed to real humans. Of
course, that would mean that corporations are not real humans and
therefore probably don't have first amendment rights. Maybe proposing
this will lead to fun as the republican fundies explode trying to decide
if they would rather lower taxes for corporations or have their dollars
as donations.

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