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“"Always Thinking"”

Level 8

Since: Nov 12

Greensburg, IN

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#1
Feb 27, 2013
 

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Tell Congress you are tired of paying for Mark Zuckerberg's stuff

Despite Facebook reporting profits of over $1.1 billion in 2012, the company is expected to pay no federal or state income taxes. In fact, Facebook will receive net tax refunds totaling $429 million, because tax deductions on executive stock options can be written off as salary deductions.

This is a perfect example of how the deficit and spending cuts are driven by loopholes that allow corporations and wealthy Americans to get all the breaks.

“n stuff..”

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Since: Apr 08

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#2
Feb 27, 2013
 
this is why you should always choose the nerd over the sports star....
Corinthians 5

Patchogue, NY

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#3
Feb 27, 2013
 
I sense jealousy.

Level 9

Since: Nov 10

Powellton WV

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#4
Feb 27, 2013
 
Hoosier Hillbilly wrote:
Tell Congress you are tired of paying for Mark Zuckerberg's stuff
Despite Facebook reporting profits of over $1.1 billion in 2012, the company is expected to pay no federal or state income taxes. In fact, Facebook will receive net tax refunds totaling $429 million, because tax deductions on executive stock options can be written off as salary deductions.
This is a perfect example of how the deficit and spending cuts are driven by loopholes that allow corporations and wealthy Americans to get all the breaks.
Exactly!

A company that reports a 1.1 billion dollar
profit does not need a "tax refund."
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Since: Jun 09

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#5
Feb 27, 2013
 
Actually, I never understood why a business pays taxes at all. Seems to me such profit should filter to the owners or stockholders who would then pay their share are whatever rate they are at.

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