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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: i-node who wrote (607031)	4/7/2011 4:01:15 PM
From: bentway	Read Replies (3) \| Respond to of 1580074

Well, Dave, how was GE able to book 14 billion in NET profits, 5 billion from US operations, yet pay NO US taxes, and even qualify for 4 billion in tax CREDITS? nytimes.com "Its extraordinary success is based on an aggressive strategy that mixes fierce lobbying for tax breaks and innovative accounting that enables it to concentrate its profits offshore. G.E.’s giant tax department, led by a bow-tied former Treasury official named John Samuels, is often referred to as the world’s best tax law firm. Indeed, the company’s slogan “Imagination at Work” fits this department well. The team includes former officials not just from the Treasury, but also from the I.R.S. and virtually all the tax-writing committees in Congress." They broke no laws - just used the tax code to full advantage. I guess the tricks are far from pencil-necked accountants in Hogwallow, Arkansas!