GE: All Profit, No Taxes
Posted By Barry Ritholtz On March 25, 2011 @ 6:07 am In Bailouts,Earnings,Taxes and Policy | Comments Disabled
Today’s must read article is a NYT [1] piece about the amazing non-profit tax-paying entity known as GE.
Yet another reason why you don’t bailout companies whose inability to manage risk allowed themselves to become destroyed: They not only do not deserve to continue with the same management/shareholders/creditors who all created the insolvency in the first place, but they are ungrateful bastards as well.
>
click for larger graphic:
[2]
>
Source:
G.E.’s Strategies Let It Avoid Taxes Altogether [1]
DAVID KOCIENIEWSKI
NYT, March 24, 2011
http://www.nytimes.com/2011/03/25/business/economy/25tax.html
Article printed from The Big Picture: http://www.ritholtz.com/blog
URL to article: http://www.ritholtz.com/blog/2011/03/ge-all-profit-no-taxes/
URLs in this post:
[1] NYT: http://www.nytimes.com/2011/03/25/business/economy/25tax.html
[2] Image: http://www.nytimes.com/interactive/2011/03/25/business/general-electric-where-taxes-are-a-source-of-profits.html?ref=economy
Click here to print.