Occupy Wall Street - Success

[Klath]

Originally Posted by Shiftin [You must be logged in to view images. Log in or Register.]

The tax loophole stuff is talking point nonsense from people who don't actually understand the tax code and the federal budget.

Again, the wealthy are able to game the system in their favor. Case in point:

From: G.E.’s Strategies Let It Avoid Taxes Altogether
[...]

A review of company filings and Congressional records shows that one of the most striking advantages of General Electric is its ability to lobby for, win and take advantage of tax breaks.

Over the last decade, G.E. has spent tens of millions of dollars to push for changes in tax law, from more generous depreciation schedules on jet engines to “green energy” credits for its wind turbines. But the most lucrative of these measures allows G.E. to operate a vast leasing and lending business abroad with profits that face little foreign taxes and no American taxes as long as the money remains overseas.
[...]