Google Facts Zone Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Google Facts Zone

GOOG 291.71

+0.4%

3:59 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Sr K who wrote (3117)	1/23/2009 9:47:56 PM
From: Patsy Collins	4 Recommendations Read Replies (1) of 3618

GE's recent quarter benefited from a tax rate of -51%, as reported today. This is nothing new, but the fact that GE met EPS really attributes to their politico connections and their creative uses of tax breaks and loopholes. I estimate that half of GE's recent quarter EPS was from tax breaks. So, GE's core businesses truly is in a dire position. Liberals and even conservative Democrats have cried foul over companies like GE that have bend the statutory corporate tax rate of 35% to in some case, as much as paying -59% as in the case of Pepco Holdings in 2001-2003 to -51% in GE. Will Obama allow this to continue or abolish these unfair tax breaks. With the love showered at Obama by NBC, CNBC, MSNBC and all of its stars, one wonders whether GE is not already well entrenched into the Obama kingdom enough for the president to look the other way. Time will tell and I for one, am looking for Obama to kick these breaks out and channel money back at the individual.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next