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With the EPA's new power they don't have to pass Cap&Trade.
Sure they do, it gives them even more power and control. All the EPA can do is harm businesses, the cap & trade program will own them, and allow government to control the people.
Some taxes kick in on signature of the bill and others kick in after 12/31/2010.
From the article:
"The world's largest construction equipment manufacturer by sales, warned last week that provisions in the legislation would subject the company to federal income taxes on the subsidies it receives for providing prescription drug benefits for its retirees and their spouses. "
This is retroactive to Jan. 1??? I mean, there are only 6 days left in the quarter!
This is retroactive to Jan. 1??? I mean, there are only 6 days left in the quarter!
1) Companies do not run quarters from Jan-March, they base their taxes on a FISCAL year..John Deere's fiscal year runs Feb-April/May-July etc
2) Who said this was ONLY this quarter? The hit is for THE YEAR!! and thats their FISCAL year...
1) Companies do not run quarters from Jan-March, they base their taxes on a FISCAL year..John Deere's fiscal year runs Feb-April/May-July etc
2) Who said this was ONLY this quarter? The hit is for THE YEAR!! and thats their FISCAL year...
I took it from the OP, who quoted the WSJ:
Quote:
Caterpillar Inc. said Wednesday it will take a $100 million charge to earnings this quarter to reflect additional taxes stemming from newly enacted U.S. health-care legislation.
From the article:
"The world's largest construction equipment manufacturer by sales, warned last week that provisions in the legislation would subject the company to federal income taxes on the subsidies it receives for providing prescription drug benefits for its retirees and their spouses. "
Which raises some questions
1) What type of subsidies do they receive? How much is that? If their taxes are this high, then imagine what type of subsidies they receive
2) Why didnt the government just close the loophole and/or lower the subsidies?
One doesnt need to have paid taxes in order to be subject to a chargeoff of earnings.. They will be taking the CHARGEOFF this quarter, but its for the year. Its just a credit against their taxes and not actual dollar losses in a month before the end of their quarter.
One doesnt need to have paid taxes in order to be subject to a chargeoff of earnings.. They will be taking the CHARGEOFF this quarter, but its for the year. Its just a credit against their taxes and not actual dollar losses in a month before the end of their quarter.
Spin, spin, spin and spin some more. All this "funny money" accounting.
Spin, spin, spin and spin some more. All this "funny money" accounting.
Its not spin, its fact.. Just because they are taking the writeoff this month, it doesnt mean that the losses are real this month, or they are fake for the year.. Corporations can choose what quarter to take the writeoff just like individuals who file quarterly can do the same, and then adjust future quarters to reflect actual accounting for the fiscal year..
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