Re: HAL STEINBRENNER the SCROOOGE robbing the common m an?
posted at 1/1/2012 11:20 AM EST
In Response to Re: HAL STEINBRENNER the SCROOOGE robbing the common m an?
[QUOTE]Add G.E. as corporate thieves toward the IRS/US govt (if what I read is true, I pay more in income taxes than GE) and we begin to see why the "Occupy Wall Street" movement started and caught fire. Too bad it was hi-jacked by cloddy thinking idiots who then thought the destruction of personal and private property somehow was justified. These maroons don't seem to realize SOMEONE has to pay for fixing up the mess. Guess who the someone is? You and me, the tax payer. So, instead of going to help the needy, through services people who are down and out, they go to fixing up the prostest areas, paying police over time - and they are now distracted from public safety elsewhere .... but, I digress.... back to baaseball...
Posted by SinceYaz[/QUOTE]
The problem with OWS in this regard is that they don't the basis for the tax return. You can't really accuse someone of fraud without knowing the details.
From what little I know, the reason that GE's taxes were minimized was that they had carry-forward losses from the financial meltdown.
IRT to the cost of the cleanup, most of the people in this country were complicit in the meltdown. The gov't encouraged home ownership at the expense of credit ratings. Home builders were only too eager to build the homes. Mortgage brokers were only too eager to write the mortgages that the gov't guaranteed. And investment banks were only too eager to convert some of the trash into CDOs.
Instead of being conservative, regular people cashed out equity in their homes to rebuild kitchens, but cars, etc.
And it isn't 'evil corporate America' either. This happened almost everywhere. It's always comforting to find a villian, but very few people are willing to identify the villian as the face in the mirror.