Post Profile

Report: Legal loophole allows GM to avoid paying federal taxes... still

The United States tax code will never be accused of being simple or easy to comprehend. With a tangle of exceptions and loopholes, individuals and corporations can work their way around paying their full income tax rate with ease. According to The Detroit News, General Motors continues to avoid paying its federal income taxes since the company exited bankruptcy. In 2008, the Treasury Department ruled that the automaker could use $18 billion in losses from "old" GM to offset any profits.
read more


Related Posts

Bernie Sanders Asks Budget Director Why Huge Companies Pay No Income Tax

US Politics / Liberal : Alan Colmes' Liberaland

Senator Bernie Sanders (I-VT) has long called for reform of tax laws to end loopholes which allow highly profitable corporations to not only pay no income taxes, but receive huge “refunds” of taxes never paid. On Tuesday, Sanders qu...

U.S. Corporations Haven’t Been Paying The Full Corporate Tax Rate For 45 Years

US Politics / Liberal : ThinkProgress: Justice

In 2011, U.S. corporations paid a 12.1 percent effective corporate income tax rate, a 40-year low. The statutory corporate tax rate is 35 percent, but companies drive their rates fare lower due to the proliferation of loopholes and ...

Here's how much income is taxed around the world

Business & Finance : Business Insider: Clusterstock

Taxes on wage income vary heavily around the world. The OECD recently published a report comparing the tax burden on wages in the world's developed economies. One of the main measures the OECD used in the report is the "tax wedge". ...

CRAMER IS RIGHT: The Hedge-Fund Tax Loophole Is Outrageous

Politics : Business Insider: Politix

Jim Cramer just went on a great Twitter tirade about the outrageousness of the tax loophole that allows hedge-fund and private-equity managers to pay 15% "capital gains" taxes while you and I pay much-higher "ordinary income" rates....

Oregonians to Legislature: Close the Con-way Loophole

US Politics / Liberal : BlueOregon

Some 1,500 Oregonians have signed a petition asking Oregon lawmakers to close a tax loophole used by some corporations to get around the state’s corporate minimum tax, allowing them to pay nothing in income taxes. The tax loophole i...


Copyright © 2015 Regator, LLC