7 CEOs made more than their companies paid in taxes

[Spungo]

Tax loss carry forward; that headline is only catchy if you're stupid when it comes to accounting.

But I heard companies never lose money. Start business, exploit people, profit. Jesse Jackson told me.

Other companies that don't pay taxes:
Twitter
Tesla

 

[DCal430]

As a small business this is obvious. For such large companies though I find it rather odd.

Did you guys read the article? The numbers are staggering.

First off the 7 companies got a tax return. $74 billion in profit and they got $2 billion as a tax return. That's how they got away with the headline. They paid no taxes. Individually the ones that did pay taxes paid very little.

They had multi billion dollar tax bills that they deferred.

Somehow we bailed out the auto industry but they're using those losses to write down their taxes today.

Pretty crazy really.

Small business do the same thing with losses, you can't arbitrarily set size of losses that can carry forward.

 

[doubledeluxe]

This isn't just losses. It's investments. On just saying that the numbers are enormous. Takes more than one tax return yo draw a conclusion though

 

[MongGrel]

True but it does have a serious effect on the $$ I can suck up from the taxpayers....like I said.

+1

On a side note, did ya see Halliburton is buying someone up for like 3.5 billion dollars and getting larger ?

Goooooooooooooo Cheney.

 

[Matt1970]

Loopholes, always those damned loopholes.

No...wait...they must be legal loopholes.

When people want businesses to hire people, they call them tax incentives.

 

[MongGrel]

I was wrong it was Baker Hughes it looks, and was 35 Billion, I had a wrong decimal spot.

http://gulfnews.com/business/investment/halliburton-to-buy-baker-hughes-for-about-35b-1.1413858

I guess when they get that big you don't worry about those things too much.

 

[MixMasterTang]

True but it does have a serious effect on the $$ I can suck up from the taxpayers....like I said.

Really? What effect would that be?