Paul Ryan The Ridiculous. republican logic.

[377OHMS]

Quote from Free Thinker:

nonsense. the effective corporate tax rate is about 17%. that includes all the small corporations that are not able to skirt tax law like these big guys.



1) ExxonMobil made $19 billion in profits in 2009. Exxon not only paid no federal income taxes, it actually received a $156 million rebate from the IRS, according to its SEC filings. [Note: Our post last April reported that ExxonMobil was owed $46 million by the IRS.]

2) Bank of America received a $1.9 billion tax refund from the IRS last year, although it made $4.4 billion in profits and received a bailout from the Federal Reserve and the Treasury Department of nearly $1 trillion.

3) Over the past five years, while General Electric made $26 billion in profits in the United States, it received a $4.1 billion refund from the IRS.

4) Chevron received a $19 million refund from the IRS last year after it made $10 billion in profits in 2009.

5) Boeing, which received a $30 billion contract from the Pentagon to build 179 airborne tankers, got a $124 million refund from the IRS last year.

6) Valero Energy, the 25th largest company in America with $68 billion in sales last year received a $157 million tax refund check from the IRS and, over the past three years, it received a $134 million tax break from the oil and gas manufacturing tax deduction.

7) Goldman Sachs in 2008 only paid 1.1 percent of its income in taxes even though it earned a profit of $2.3 billion and received an almost $800 billion from the Federal Reserve and U.S. Treasury Department.

8) Citigroup last year made more than $4 billion in profits but paid no federal income taxes. It received a $2.5 trillion bailout from the Federal Reserve and U.S. Treasury.

9) ConocoPhillips, the fifth largest oil company in the United States, made $16 billion in profits from 2007 through 2009, but received $451 million in tax breaks through the oil and gas manufacturing deduction.

10) Over the past five years, Carnival Cruise Lines made more than $11 billion in profits, but its federal income tax rate during those years was just 1.1 percent.

http://motherjones.com/mojo/2011/03...10-tax-avoiders

As you point out, GE is in bed with the Obama regime and so pays no taxes. Sweet deal.

Liberals will just tax the country out of existence. Controlling spending just isn't in your playbook. I guess we'll need the Great Depression #2 to convince more.

 

[Free Thinker]

Quote from 377OHMS:

As you point out, GE is in bed with the Obama regime and so pays no taxes. Sweet deal.

Liberals will just tax the country out of existence. Controlling spending just isn't in your playbook. I guess we'll need the Great Depression #2 to convince more.

no. i want to go where the real wasteful spending is first. people like you are a funny bunch. i have a friend who is a strong anti obama tea party guy. he is constantly forwarding me tea party cut government spending nonsense.
now get this. he just had a total knee replacement paid for by medicare and he is employed driving a para transit bus that is run by a governmet program. he also has a farm that he rents out but still collects thousands every year in farm subsidies. all one can say to that kind of thinking is WTF.