Forum Post: ARTICLE - Some corps (like NBC) pay negative tax rates!
Posted 13 years ago on Nov. 5, 2011, 8:24 p.m. EST by electrictroy
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Pepco Holdings averaged out to negative 57.6%. General Electric (NBC-universal) paid negative 45.3%. Wireless providers ATT and Verizon also paid negative tax rates, thanks to "Internet Stimulus" funds from the 2009-10 Congress...
Corporations are also on the hook for state income taxes as well as sales, property and payroll taxes, said the nonpartisan Tax Foundatio. From 1994 through 2008, he said, corporations paid out more in taxes than they pulled in through after-tax profits for all but three years.
LINK - http://latimesblogs.latimes.com/money_co/2011/11/corporate-taxes.html
Isn't it strange that when people demand their rightful share of the economy it is called socialism?
When corporations/lobbyists/rich individuals demand and get this unjust share it is sometimes called stimulus.
"Stimulus" or "Jobs Bill".
Still Corporate welfare by any other name.
Should read "the democratically controlled 2009-10 Congress.
good point
I guess no body cares.
Or else it's old news that ~30 corporations pay negative US income tax. It surprised me. I thought most corporations paid around 30% (plus state and Medicare/SSI taxes).
Socialism in action.
Politicians awarding special tax rates and/or monetary donations to corporations they like... such as NBC-GE and the internet companies.
Hmmm. 'Internet stimulus funds.' Kind of gives one an idea of some of the lobbyists pushing for the 'Net Neutrality' bill.
Yeah that was pretty obvious.
It's the same companies that pushed the FCC to release Internet Modems that broadcast directly over TV channels (2 to 51). Google, Apple, Microsoft, ATT, Verizon, Sprint, and so on. And Obama and his Democrats (in congress and in regulatory agencies) are willing servants to these people.
I dont undertand that about the modems. Can you please explain? What does it do? What purpose does serve? What are the negatives?
The technical term is "TV Band Device" and it allows a computer or laptop to connect to the internet over TV channels 2 through 51. The pros? If you live in Wyoming and don't have internet, you can get it over the TV channels.
The cons? They interfere and block reception of Digital TV (football games, primetime dramas, and local news reports). The FCC was aware of this flaw but shoved it through anyway, because Google, Microsoft, et al insisted there would be no problem.
Plus those corporations promised the FCC regulators they would get jobs after their DC terms ended. One has already quit and moved to ATT. It's cronyism again... just like the bank bailouts.
So while you use the internet the tv doesnt work? Is this an extra service, or any tv does it? Sorry, im guessing you didnt expect to be teaching a class today!
It's more complicated than that, because they are supposed to use just one channels at a time. But they don't always work right. For example:
You might be watching the basketball game from nearby Hartford, and suddenly the neighbors turn-on their internet device and broadcast directly over the channel. Goodbye game. IMHO the fcc was really stupid to allow these TV Band internet Devices out in the wild.
But then again the FCC was being bribed by the megacorps so they probably didn't care. NEXT UP: Google, Microsoft, ATT, et al are pushing to kill off all TV channels above 25 so their cellphones can use them instead. They also want to take-over AM radio for the same purpose.
These guys are quite greedy.
So who is using the old tv bands?
TV didn't lose any bands, but it did lose channels 52 through 83. Most of them now belong to the cellphone companies, and two were assigned to police and emergency radio.