There are so many, many corporations that if the tax breaks they are given are taken away, the rich would most definitely be paying their “fair share”. I laugh when any Democrat talks about the rich paying more, the rich never pay more, the tax rates go up and the middle and upper middle class takes the hit. The rich hire accountants and lawyers to ensure that their “income” is quite like Barack Obama’s billionaire friend George Kaiser 11,699.00. That isn’t an income, that is an accountants rendering of an income and a way for the rich to become richer. I love the rich, they create jobs, but when they live on the leftside of the divide and help the loony tune Democrats rail against themselves, fully knowing they will never pay their fairshare they then become an enemy of America.
General Electric and Jeffrey Immelt, who Barack has paraded to Americans as the greatest thing since sliced bread, is the epitome of a fraud when it comes to taxes and jobs for that matter. General Electric quarter after quarter always finds the loopholes to end up at the end of year paying NO TAXES, NONE
General Electric, one of the largest corporations in America, filed a whopping 57,000-page federal tax return earlier this year but didn’t pay taxes on $14 billion in profits. The return, which was filed electronically, would have been 19 feet high if printed out and stacked.
The fact that GE paid no taxes in 2010 was widely reported earlier this year, but the size of its tax return first came to light when House budget committee chairman Paul Ryan (R, Wisc.) made the case for corporate tax reform at a recent townhall meeting. “GE was able to utilize all of these various loopholes, all of these various deductions–it’s legal,” Ryan said. Nine billion dollars of GE’s profits came overseas, outside the jurisdiction of U.S. tax law. GE wasn’t taxed on $5 billion in U.S. profits because it utilized numerous deductions and tax credits, including tax breaks for investments in low-income housing, green energy, research and development, as well as depreciation of property.
I want a flat tax, I want that because is makes everyone pay something, the rich, the poor, the illegal and the majority of Americans who make up the rest of this grand Country.