Silicon Investor (SI) -- The First Internet Community

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.

Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Bearcatbob who wrote (156913)	9/12/2011 10:50:33 PM
From: microhoogle!	1 Recommendation Respond to of 206092

Bearcatbob, You can also duck all your losses. All you have to do is pay off a whole bunch of Representatives and Senators. http://blogs.law.harvard.edu/philg/2011/03/25/ge-pays-no-income-tax-implies-that-the-corporate-tax-system-needs-reform/ Given that our politicians are more or less openly for sale, I don’t see how a company with more than $100 billion in annual revenue can be denied the laws that it wants, particularly if those laws are obscure and hard for the general public to understand. Is it reasonable to believe that somehow the laws will be adjusted so that small companies, without the resources to purchase Representatives and Senators, or even attend $5,000 per person dinners, pay less while GE pays more? Wouldn’t it make more sense to scrap the corporate income tax (which a lot of economists have never liked) and replace it with something less susceptible to lobbying by the largest companies?

To: Bearcatbob who wrote (156913)	9/13/2011 1:49:04 PM
From: Sam	3 Recommendations Read Replies (1) \| Respond to of 206092

If I have a bad year in the market and my losses are limited for tax purposes to $3000 (family)... I am sure it was all legal for GE to not pay. However, we are talking about closing loopholes here and FAIRNESS. If GE can duck all of their taxes due to losses - why can't I? Why cannot others? Bob, if you lose a lot of money one year (say, a million dollars), and then you make a million dollars 2 years later, then you too will be able to "duck" all of your taxes on that gain by using that tax loss carry forward. No differently than what GE apparently did. The $3,000 limit is only if you haven't made a corresponding gain, and have some loss left over. Then you can only deduct the extra $3,000. Apologies for not replying to this sooner, haven't been keeping up with this board.