Did you pay more taxes than Bank of America (Obama, companies, elect)

[Boompa]

Bank of America, Citibank and General Electric paid nothing, what these guys need is another tax break

[lifelongMOgal]

Originally Posted by Boompa

Bank of America, Citibank and General Electric paid nothing, what these guys need is another tax break

link? If this is what I think it is the reason these companies did the "Irish Double " was because taxes were lower overseas.

But, I got busted for a duplicate post though my link was different.

[HappyTexan]

And letting the Bush cuts expire will do nothing to their bottom line of 0 taxes.

[HappyTexan]

Here's one link on BofA.
Bank of America, Wells Fargo might not pay federal taxes for 2009 | McClatchy

[BigJon3475]

It's a corporation, of course it doesn't pay taxes. No corporation pays taxes, their customers pay taxes for them. That's why raising taxes on something like BoA would be a tax increase for the citizens who bank with them.

[shorebaby]

Originally Posted by HappyTexan

Here's one link on BofA.
Bank of America, Wells Fargo might not pay federal taxes for 2009 | McClatchy

Well that is hardly persuasive. In the year when they lost money do you think they should pay taxes? It only seems fair to tax actual profit.

I guess the alternate answer is yeah I paid more taxes than BOA because I made more than them.

[Boompa]

Originally Posted by BigJon3475

It's a corporation, of course it doesn't pay taxes. No corporation pays taxes, their customers pay taxes for them. That's why raising taxes on something like BoA would be a tax increase for the citizens who bank with them.

NO, they paid $0, so they didn't have to raise fees to pay $0.
They are living tax free.
Personally I'd let the tax breaks expire, that way we can pay off the deficit and not leave it to our grandchildren

[Drover]

Originally Posted by Boompa

Bank of America, Citibank and General Electric paid nothing, what these guys need is another tax break

When I have a zero or negative net income, I don't pay income taxes either. Neither do you. Neither does anyone. So why should Bank of America, Citibank or GE pay taxes on income they didn't have when nobody else has to? Whether the corporate tax rate is 1% or 90%, their tax burden on any year they post a loss is still the same: zero.

[pghquest]

I'm sure millions of businesses will have $0 tax liability for 2009, just like 2008, 2007, 2006, and on and on and on.. Thats what happens when you have $0 profit..

[mohawkx]

Yes, I did. I paid 31% of every dime I made in either withholding, property, sales, SS, Medicare, And some I can't remember. But that' not Obama's fault. It's been going on forever.