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General Electric filed a 57,000 page tax return. They paid no federal taxes on $14 Billion of profit.

http://www.weeklystandard.com/blogs/ge- ... 09137.html" onclick="window.open(this.href);return false;

"GE Brings Good Things to Life"

I would've thought one page could've covered that.

WildBill wrote:General Electric filed a 57,000 page tax return. They paid no federal taxes on $14 Billion of profit.

http://www.weeklystandard.com/blogs/ge- ... 09137.html" onclick="window.open(this.href);return false;

"GE Brings Good Things to Life"

I understand that its a VERY large corporation. I understand that it has many branches and subsidiaries, etc. I understand that the tax code in this nation is insanely large and complex. But FIFTY-SEVEN THOUSAND PAGES? And in the end, they didn't pay a cent...the problem in our nation is not capitalism...its CRONY CAPITALISM. Whatever YOU do, you better pay up, though...those few grand you regular folks made and got taxed on are well within the all-seeing eye of Sauron...and the government goblins WILL come for you if you don't pay up.

Heartland Patriot wrote:

WildBill wrote:General Electric filed a 57,000 page tax return. They paid no federal taxes on $14 Billion of profit.

http://www.weeklystandard.com/blogs/ge- ... 09137.html" onclick="window.open(this.href);return false;

"GE Brings Good Things to Life"

I understand that its a VERY large corporation. I understand that it has many branches and subsidiaries, etc. I understand that the tax code in this nation is insanely large and complex. But FIFTY-SEVEN THOUSAND PAGES? And in the end, they didn't pay a cent...the problem in our nation is not capitalism...its CRONY CAPITALISM. ...

Well, that and maybe the tax code itself.

If you though a 57,000 page tax return is ridiculous, what do you think about a 72,000 page tax code?

Thomas wrote:

Heartland Patriot wrote:

WildBill wrote:General Electric filed a 57,000 page tax return. They paid no federal taxes on $14 Billion of profit.

http://www.weeklystandard.com/blogs/ge- ... 09137.html" onclick="window.open(this.href);return false;

"GE Brings Good Things to Life"

I understand that its a VERY large corporation. I understand that it has many branches and subsidiaries, etc. I understand that the tax code in this nation is insanely large and complex. But FIFTY-SEVEN THOUSAND PAGES? And in the end, they didn't pay a cent...the problem in our nation is not capitalism...its CRONY CAPITALISM. ...

Well, that and maybe the tax code itself.

If you though a 57,000 page tax return is ridiculous, what do you think about a 72,000 page tax code?

I think what I posted above (highlighted in red)...well, I think a lot worse, but I'm not going to use foul language here...not appropriate or allowed. BTW, I like GE's jet engines...just not a fan of how the corporation as a whole conducts itself.

I wonder how much GE spent to get a return of 14 billion dollars. If they spent 200 Billion, 14 billion is only a 7% profit, nothing huge. 500 billion spent is 2.8% profit.

I also wonder how much GE spent in lawyers, attorneys and CPAs to file a 57,000 page tax return.

This article states that GE has 375 lawyers in their tax department. They didn't say how many accountants, CPAs, etc.

http://www.cleveland.com/business/index ... o_pay.html" onclick="window.open(this.href);return false;

Heartland Patriot wrote:

Thomas wrote:

Heartland Patriot wrote:

WildBill wrote:General Electric filed a 57,000 page tax return. They paid no federal taxes on $14 Billion of profit.

http://www.weeklystandard.com/blogs/ge- ... 09137.html" onclick="window.open(this.href);return false;

"GE Brings Good Things to Life"

I understand that its a VERY large corporation. I understand that it has many branches and subsidiaries, etc. I understand that the tax code in this nation is insanely large and complex. But FIFTY-SEVEN THOUSAND PAGES? And in the end, they didn't pay a cent...the problem in our nation is not capitalism...its CRONY CAPITALISM. ...

Well, that and maybe the tax code itself.

If you though a 57,000 page tax return is ridiculous, what do you think about a 72,000 page tax code?

I think what I posted above (highlighted in red)...well, I think a lot worse, but I'm not going to use foul language here...not appropriate or allowed. BTW, I like GE's jet engines...just not a fan of how the corporation as a whole conducts itself.

I'm sorry. It looks like I just skimmed over your post and missed that bit

This could be avoided by having a simple tax code. However, if the government refuses to have a simple tax code, preferably a flat tax with no loopholes, I consider it my duty to use loopholes to pay as little tax as possible.