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Maybe just maybe this article will start to make some of you die hards realize whos getting screwed

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Posted: #51

Quote Originally Posted by wallstreetcappers:

rooster,

offshore hiding and shuffling of revenues, that is pure cheating.

A normal citizen does that, the IRS smacks the hell out of them, a corporation does it and everyone gets bonuses an accolades.

Go figure..also GE is a monster corp, I am sure they also play the export production/import finished good shuffle which is also pure cheating. Not corporate cheating but social and tax cheating.

Its totally mind boggling that some of these guys just dont get that and instead keep defending these giant corporations for some reason, which i just cant seem to figure out. Maybe some of the guys here own giant corporations, cause i dont understand why day after day they keep defending what these companies are doing, when all its really going to do in the long run is hurt them.

Starting to believe some of the guys here really dont believe what they post, they just create posts to stir up shit, thats what they like doing.

 
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Posted: #52

almost forgot Wall  

good last post

 

The wild bunch burned me out, every thread i create or post, it becomes about me, like am some major factor in the world.

 
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Posted: #53
Quote Originally Posted by Renton2010:

What offshore hiding?

As you stated, "GE is a monster corp".

It got to being a monster corporation by expanding globally, hence it has global (read offshore) revenue.

I'm still missing the cheating part.



Are you trying to be combative or is that an honest question?

I will assume honest and reply.

When corporations intentionally shuffle revenues to foreign entities that is considered cheating if you ask me..any time a corporation or individual shifts revenues, profits, money to offshore, foreign entities for the purpose of tax evasion that is considered cheating.

Or do you consider evasion to be an honest and legal activity?
 
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Posted: #54

To all the guys defending what companies like ge do on a daily basis, just now this not only are certain people becoming filthhy rich beyond anybody could ever dream about having, but these companies are making all of us pay more for their wealth, so if you get your kicks paying for the rich guys yachts and mansions, then congrats your all doing a great job

Your kids and grand kids will have a bright future to look forward to being a slave to these filthy filthy filthy rich companies

 
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Posted: #55
Wallstreet, I apologize for making your job harder, didnt realize a good thread would head off course so fast. Its a shame cause this forum really is quite decent for the most part.
 
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Posted: #56
I am not an expert at deciphering tax code, but as long as the profits are not RePatriotated (sp?)  I do not think that the offshore shell-games are illegal,  I think that they are underhanded and hurt America but not illegal, rather on the fringes of common tax code that you or I will never delve into. 

I think that goes further to prove my point that the politicians who muddle the tax code are responsible.  Those that block real tax reform are also culpable. 


CD newsflash Count :  3  


 
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Posted: #57

Quote Originally Posted by wallstreetcappers:

rooster,

offshore hiding and shuffling of revenues, that is pure cheating.

A normal citizen does that, the IRS smacks the hell out of them, a corporation does it and everyone gets bonuses an accolades.

Go figure..also GE is a monster corp, I am sure they also play the export production/import finished good shuffle which is also pure cheating. Not corporate cheating but social and tax cheating.

why does the irs not smack any of the big corporations if what they are doing s illegal?

revenue shuffling or offshore hide and winking or whatever it is you want to call it is part of the tax law, loopholes

are our regulators that stupid and just turned a blind eye?

the company hired the people who wrote the code so as best to beat the system

legalized rape is a better term than "cheating"

 

 

 
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Posted: #58
CD, you are about 100 yrs too late with that statement, Americans have been slaves for longer than You or I have walked the Earth. 
 
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Posted: #59
Not combative at all. 

It's an honest question. 

I haven't seen any evidence of shuffling revenue.

Let's say for the sake of discussion, that they do shuffle revenue. 

Have they broken any laws doing so?
 
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Posted: #60
Quote Originally Posted by cd329:

Its totally mind boggling that some of these guys just dont get that and instead keep defending these giant corporations for some reason, which i just cant seem to figure out. Maybe some of the guys here own giant corporations, cause i dont understand why day after day they keep defending what these companies are doing, when all its really going to do in the long run is hurt them.

Starting to believe some of the guys here really dont believe what they post, they just create posts to stir up shit, thats what they like doing.

cd, i am not defending any big corporations, ok cupcake

i place more blame on the politicians who allow for this sort of thing to happen and the lobbyists, isnt a lobbyist kind of like collective bargaining

and ultimately those that vote for the politicians who allow this to happen

until we hold those politicians accountable this cycle will never end

 
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Posted: #61
Quote Originally Posted by Renton2010:

Not combative at all. 

It's an honest question. 

I haven't seen any evidence of shuffling revenue.

Let's say for the sake of discussion, that they do shuffle revenue. 

Have they broken any laws doing so?


Definitely, and for sure corporations are 10 steps ahead of IRS auditors, hell they staff ex-IRS employees.


 
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Posted: #62
I wouldn't be blaming the corporations then, clearly it is those who are responsible for decision making and the regulators who should take the blame.

 
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Posted: #63

Quote Originally Posted by wallstreetcappers:

Ok SS, I guess you are just prone to deflection and jabs, lets break down the thread sequence.

CD makes a thread about GE and taxes, you wait all of 12 minutes to not only take a swipe at CD (which you have been asked to avoid) but turn a thread about GE and their century long tax cheating into a swipe at Obama having Jeffy be in some political panel.

Tell me exactly why you needed to do those things when it has nothing to do with the topic and was bashing CD to boot?

I think you are doing a disservice to a good topic and a good forum when you often resort to these tactics.

First off ...believe me WSC.. I also aplolgize if I have made your job harder ,but hey it's a job and someone has to do it ....so lets break down the thread sequence futher ...to be more accurate .

CD maked a thread about GE & taxes minutes after I finished reading, that he wouldn't post for awhile ......

"And for the record i havent made any posts here for over a week and probably wont make anymore after this one for awhile. "

Now you are assuming -wrongfully- that I waited 12 mins to post a comment ..I posted when I ..1st read the thread topic ..my post  was to the topic with a side note ...pointing out only what he had made a claim of doing ...and ( I have never been told my Covers Moderators to avoid cd329 )..

Than before your comment the 1st time ..I'm told by the thread originator - for pointing out the short time period of not posting ...   that's my fucking business...  frig yourself ,,,put a spider on your junk so you can have sex with your companion .., dont worry about the fuck am doing...

It becomes everybody's business when someone post it in an open Forum and any sensible person would have to say making all those vulgar and sexual comments is more than a little over the top ..for pointing out what someone just said they were not going to do ...

Than I'am accused as taking a swipe at Obama ..I didn't ( if I did what's wrong with that ?) how is he protected from swipes in a political forum  ..?

You said GE is a sleazy company.. I posted in agreement ..that's why he was appointed by Obama... I did not say Obama was sleazy but rather he has a history of appointing sleazy people ..as Czars .. fact.

So you judge my comment by a pre-conceived opinion you have ,,and not on the current post ...instead of giving me the same assumption you later gave Renton "  Are you trying to be combative or is that an honest question?   "I will assume honest and reply ".

About 10 days ago you asked me "So answer this for me, do you feel justified to attack someone because they were involved in a dispute with you in another thread?"

So let me ask you ..Do you justify your sacrastic attacks on me because of someones history and carry it over to another thread?

 
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Posted: #64

Hey Slim,

 What i write about when i post and when i wont post is my fuckin business, i dont need to hear about it from you.  Why dont you take some of your own advice that you cry about on a daily basis, post about the topic and leave all the bullshit out. I had no intentions of posting fof awhile when i made that post, but then i happened to read that article on yahoo and thought some might like it.  Had i known your sorry excuse for a human being would start shit about my posting habits, i wouldnt have wasted my time posting it. Why dont you just leave me alone and leave your fucking smart ass comments to yourself and then you wont have to worry about people attacking you back anymore. But the truth is you just cant control yourself, because your nothing but a huge troublemaker, always looking to create trouble.

Oh and one last thing, quit playing dumb which you are so good at doing. I have lost count at how many times Wallstreet has asked you to just avoid me, but you just refuse to do it and always look for threads of mine to start your smart ass comments, which i then have no choice but to attack back, got it spidergirl?

Bravo you ruined another thread with your dumb ass question and answer crap about other things.

Still not to late to change your ways before you meet your maker

 
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Posted: #65

It's a little hard to avoid someone who is the 1st one or one of the 1st one's to jump into one of my threads a start combative and petty attacks ..


Amtrak is renaming a train station ...

Wisconsin pro-union protesters carr...

Did Wisconsin Police & Firemen ...

Looks like Milwaukee union teachers...

                                                                              et al.

What is it that you suggest I do ?

Do you want me to go to the Covers Help Forum and ask for a restraining order to protect you.. from posting voluntarily in my threads..

 
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Posted: #66

why not post links to all the fuckin threads you jump into my threads and start shit with me.

Seriously you have a bigtime mental problem, that you bookmark old links and go back to them. Get a fucking life because there is more to life then just covers political section.

I took a break from this site and havent posted in any of your threads recently because am sick of the stupid drama with you and your buddy mets. My first thread created in awhile and you have to jump in with your smart ass comment about when am gonna and not gonna post. Nobdoy gives a shit when i post or when i dont post except for clowns like you who have no life other then posting here and having your junk bitten by spiders. Post on the topics all you want, just leave me alone, keep your little smart ass comments to yourself. Take some of your own advice that you constantly cry about. Stop being one of these guys who say "do as i say not as i do"

 
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Posted: #67
Quote Originally Posted by cd329:

 

Hey dickie, why dont you go play in your make believe mma land and leave the real politics to the big boys. First off genius, just because i voted for Obama doesnt make me some total liberal guy. I vote repulbican and i vote democrat. I vote for the person not the party and had the republicans picked a better vp i would have voted fo McCain. So now with that said go and fuck yourself punk.

Heres a news falsh the story i posted isnt about me, so posts something useful about the story or keep your vile mouth shut.



You are an extremely unintelligent, uneducated and filthy-mouthed cat-catcher...and a disgrace. Why are all of us hard-working tax-payers  required to pay such a useless l no-nothing, loser, TWIT like you anyway, is something that I'll never understand...all you do is sit on your fat-ass all day long and whine to people who couldn't give two-shits what you think, do or say or whether you live or die for that matter...get a life cat-boy....gosh, are you dumb.......
 
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Posted: #68

Quote Originally Posted by RichardA:



You are an extremely unintelligent, uneducated and filthy-mouthed cat-catcher...and a disgrace. Why are all of us hard-working tax-payers  required to pay such a useless l no-nothing, loser, TWIT like you anyway, is something that I'll never understand...all you do is sit on your fat-ass all day long and whine to people who couldn't give two-shits what you think, do or say or whether you live or die for that matter...get a life cat-boy....gosh, are you dumb.......

 

This coming from the jerkoff who has no life and no friends, he needs to make up bullshit stories about being an mma fighter. There probably isnt a mma fighter in the world who hangs out on a political messageboard on a gambling site. Guys like you are such punks, always needing to sit on your computer trying to get people to like you, but dickie nobody is ever going to like a vile disgusting guy like you. So run along dickie.

Hey dickie by the way this thread wasnt about me, it was about ge, but your simple brain cant grasp that.

another clown obsessed with me

 
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Posted: #69
You guys were asked to knock off bashing each other, and in this case SS you started it.

So post about the past and why this and that, you entered his thread and started with the jabs period.

You have no response to make, he didnt start anything. If you are bothered by someone saying they arent posting for a while, maybe Covers isnt the place for you?

I suggest you put more effort into avoiding someone you obviously cannot help yourself in fighting with.
 
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Posted: #70
Quote Originally Posted by Renton2010:

I wouldn't be blaming the corporations then, clearly it is those who are responsible for decision making and the regulators who should take the blame.



1000% incorrect, in fact that makes my point even easier. If you are trying to say corporations are not with fault because they know how to cheat and get away with it, that only makes the point even stronger...regulators arent in the same ball park, or universe as these companies..private industry actually hires people to find ways to cheat the code, to hide money, to find illegal advantage for themselves and customers.

What I am saying is pure fact and very regularly these same firms are caught for the small ammt of items which they dont get away with and have to pay fines, sometimes corp leaders get the sack, once in a while it might cause a company go to under (example recently is Lehman).

You are way too innocent if you think corporations arent in the business of finding ways to cheat and create advantage regardless of any legal or regulatory consequence.
 
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Posted: #71

Is this what you mean by revenue shuffling Wall?

Deferral of Income from Controlled Foreign Corporations
Multinational companies can defer paying U.S. income taxes until they transfer overseas profits back to the United States, under this law. In practice, many companies leave much of their profits overseas indefinitely, thus paying only the tax in the relevant foreign country, which is likely far lower than the U.S. rate, and avoiding U.S. taxes permanently. The list of corporations enlisting this loophole is seemingly endless.

 

Taken from a list of the biggest corporate tax breaks compiled by the Tax Foundation.

 
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Posted: #72
I don't see where anything illegal has been done.

I guess we will find out as GE is currently being audited by the IRS on its 2003 - 2007 filings.

These loopholes exist and corporations hire intelligent individuals to maximize credits from these loopholes.

 I don't believe that is cheating, but I guess that is personal opinion.
 
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Posted: #73
Nope..

I consider shuffling as an example to be company X taking revenues made in country A and moving them to subsidiary Y using accounting creativity with subsidiary Y existing in the Grand Cayman with no income taxes.

I also consider cheating where company X does business in several countries and moving sales in and out depending on the net tax benefit of where the sales end.

It is impossible for the IRS or a regulatory organization to catch these complex, multi-national companies in the majority of their deceptive strategies.

You are fooling yourself to think it doesnt regularly happen.
 
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Posted: #74
That is a good point in post 71, there are many more like it. We have discussed this before regarding what garbage companies get away with, the fact it is tolerated is absurd.


 
 
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Posted: #75
Oh I know it does and here is why.

Inventory Property Sales
Foreign income of American companies is taxed in the country in which it is generated, and the U.S. gives a tax credit for that amount in order to avoid double taxation. Some companies have accumulated a glut of such tax credits (the “inventory”), and in order to use them up, they artificially boost foreign income through a “title passage rule” that allows companies to allocate 50 percent of income from U.S. production sold in another country as income generated by that foreign country (the “property sales”).

Taken from the same list as above.

It's a loophole, but it isn't cheating. It is allowed  by the Government.
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