Another Dem owned company will not pay taxes this year.

[Luddly Neddite]

Evidently Face Book which earned over a Billion dollars last year, not only will not be paying any taxes, but will be getting almost $500 Million back in a refund.

A huge supporter of Obama, Facebook used loopholes to write off the stock they gave their employees, shares it cost Facebook nothing to give, and not only did they write off enough to cover last year's taxes, but this year's and the next 2 year's.

Will Obama and the Democrats be attacking Facebook as they attacked the oil companies?

I doubt it.

They left GE alone last year.

So, you're saying you agree with President Obama about closing all the damn corp loopholes? If so you need to write the your pub congressman and tell his to vote with the prez.

Meanwhile, do YOU pay more taxes that you are legally required to pay?

Weren't all you rw's in favor of Mittens not paying fair taxes?

Sounds like you might want a different set of rules for the libs than for the r's. Naw, that can't be ... cuz THAT would be way fucking hypocritical.

 

[Trajan]

Don't know the nitty gritty, but my guess is that an IPO of this magnitude is operating within parameters set forth by the IRS just the same as everyone else. It's why you hear such claims as Exxon "paying no taxes".

and when Obama ( and the media) starts vilifying Zuckerzit, you'll have a point


It hasn’t drawn much attention, but Facebook’s first annual earnings report contains an accounting gem: a multibillion-dollar tax deduction for the cost of executive stock options and share awards.

Even though Facebook (FB) reported $1.1 billion in pre-tax profits from U.S. operations in 2012, it will probably pay zero federal and state taxes—and even receive a federal tax refund of about $429 million—according to a Feb. 14 statement from Citizens for Tax Justice.

more at-

Facebook Gets a Multibillion-Dollar Tax Break - Businessweek

 

[Trajan]

Evidently Face Book which earned over a Billion dollars last year, not only will not be paying any taxes, but will be getting almost $500 Million back in a refund.

A huge supporter of Obama, Facebook used loopholes to write off the stock they gave their employees, shares it cost Facebook nothing to give, and not only did they write off enough to cover last year's taxes, but this year's and the next 2 year's.

Will Obama and the Democrats be attacking Facebook as they attacked the oil companies?

I doubt it.

They left GE alone last year.

So, you're saying you agree with President Obama about closing all the damn corp loopholes? If so you need to write the your pub congressman and tell his to vote with the prez.

Meanwhile, do YOU pay more taxes that you are legally required to pay?

Weren't all you rw's in favor of Mittens not paying fair taxes?

Sounds like you might want a different set of rules for the libs than for the r's. Naw, that can't be ... cuz THAT would be way fucking hypocritical.

wow..are you dizzy?

you should be with all the smack you talked about Romney et al.....now you're gonna pretend its the gop that trashes corporations etc. who don't pay taxes? thats your hacks class warfare angle...man up and own it.

 

[Jroc]

Why is it people call it a loophole when other people use them, and a legitimate deduction when they do? It's all about abiding by the tax law, isn't it?

This is why Romney wanted to cut the overall tax rates and close loopholes…There’s too much cronyism involved in our idiotic, overly complicated tax code

 

[Mr. H.]

Don't know the nitty gritty, but my guess is that an IPO of this magnitude is operating within parameters set forth by the IRS just the same as everyone else. It's why you hear such claims as Exxon "paying no taxes".

and when Obama ( and the media) starts vilifying Zuckerzit, you'll have a point


It hasn’t drawn much attention, but Facebook’s first annual earnings report contains an accounting gem: a multibillion-dollar tax deduction for the cost of executive stock options and share awards.

Even though Facebook (FB) reported $1.1 billion in pre-tax profits from U.S. operations in 2012, it will probably pay zero federal and state taxes—and even receive a federal tax refund of about $429 million—according to a Feb. 14 statement from Citizens for Tax Justice.

more at-

Facebook Gets a Multibillion-Dollar Tax Break - Businessweek

Yup. But hey don't let post 18 die on the vine.

Anybody?

 

[Trajan]

Evidently Face Book which earned over a Billion dollars last year, not only will not be paying any taxes, but will be getting almost $500 Million back in a refund.

A huge supporter of Obama, Facebook used loopholes to write off the stock they gave their employees, shares it cost Facebook nothing to give, and not only did they write off enough to cover last year's taxes, but this year's and the next 2 year's.

Will Obama and the Democrats be attacking Facebook as they attacked the oil companies?

I doubt it.

They left GE alone last year.

Can you show us from this where FB paid no income tax?

FB Income Statement | Facebook, Inc. Stock - Yahoo! Finance

here ya go..

http://www.usmessageboard.com/6828956-post22.html

 

[Trajan]

Don't know the nitty gritty, but my guess is that an IPO of this magnitude is operating within parameters set forth by the IRS just the same as everyone else. It's why you hear such claims as Exxon "paying no taxes".

and when Obama ( and the media) starts vilifying Zuckerzit, you'll have a point


It hasn’t drawn much attention, but Facebook’s first annual earnings report contains an accounting gem: a multibillion-dollar tax deduction for the cost of executive stock options and share awards.

Even though Facebook (FB) reported $1.1 billion in pre-tax profits from U.S. operations in 2012, it will probably pay zero federal and state taxes—and even receive a federal tax refund of about $429 million—according to a Feb. 14 statement from Citizens for Tax Justice.

more at-

Facebook Gets a Multibillion-Dollar Tax Break - Businessweek

Yup. But hey don't let post 18 die on the vine.

Anybody?

farm subsidies blow, ethanol especially is the biggest boondoggle of them all.

 

[Jroc]

They followed the same laws available to you.

Yup.

But the difference between "they" and me is slim to none, yet distinct.

I produce a commodity from the land (like farmers) that is traded on international markets (like farmers) often times under harsh weather conditions (like farmers). My input costs continually rise (like farmers), and I am unable to pass along those increases in costs directly to consumers (like farmers). My commodity price fluctuates (like farmers), sometimes it's high and sometimes it's low (like farmers).

The difference? I have no "crop" insurance, I have no price supports, I have no loan deficiency payments, I have no set-aside production credits.

Yet without my commodity, farmers... and the entire ag industry could not exist.

The federal government makes more money off the energy industry than they do from any other, yet they are demonized by these politicians. Companies should be able to deduct expenses for cost of doing business... that is a subsidy?…. Only in the mind of a liberal

 

[kiwiman127]

" Another Dem owned company will not pay taxes this year"
The author of this thread should be banned on the grounds of,,,,being lame!
Corporations are not Democratic or Republican companies. Corporations support who serves their interest the best,,, at the time.
Corporations not paying taxes is nothing new.

Big No-Tax Corps Just Keep on Dodging
http://www.ctj.org/pdf/notax2012.pdf

Most firms pay no income taxes - Congress
Majority of corporations avoid federal income taxes - study - Aug. 12, 2008

 

[francoHFW]

OP- thanks to Pub default tax rates- now 12% effective rate- NOT reported on the Propaganda Machine of course, just this kind of crappe...Pub dupes!

 

[OohPooPahDoo]

A huge supporter of Obama, Facebook used loopholes to write off the stock they gave their employees, shares it cost Facebook nothing to give,

That's baloney. When a company gives stock away it dilutes the current stock. That costs real money bonehead.

Will Obama and the Democrats be attacking Facebook as they attacked the oil companies?

No one attacked the oil companies.


Though I'm mostly interested in how you found out the party affiliation of Facebook's shareholders. I've bought stock many times and never once was I asked to tell my party. How is it Republicans are not allowed to buy FB stock?

 

[OohPooPahDoo]

I thought conservatives were all for that kind of thing. Now all those people will go out in the world and *poof* jobs will start appearing left and right.

You should rejoice!

For lower taxes.

Not selective lower taxes for political supporters.

$500mil creates the hired staff who need plenty of BMW techs, sushi chefs, shirt starchers and baristas.

"selective lower taxes for political supporters."

Really? So the rules that allow FB to write off the stock it gave to its employees were only just created when Obama took office and only FB and other OBama supporters can use them?

Link?

 

[OohPooPahDoo]

Evidently Face Book which earned over a Billion dollars last year, not only will not be paying any taxes, but will be getting almost $500 Million back in a refund.

A huge supporter of Obama, Facebook used loopholes to write off the stock they gave their employees, shares it cost Facebook nothing to give, and not only did they write off enough to cover last year's taxes, but this year's and the next 2 year's.

Will Obama and the Democrats be attacking Facebook as they attacked the oil companies?

I doubt it.

They left GE alone last year.

Does Facebook receive oil subsidies?

Oil Companies still pay taxes after the subsidies. But since you brought it up, How does Facebook fuel a car, truck, or plane or heat a home?

https://www.facebook.com/gasbuddy

 

[OKTexas]

Why is it people call it a loophole when other people use them, and a legitimate deduction when they do? It's all about abiding by the tax law, isn't it?

This is why Romney wanted to cut the overall tax rates and close loopholes…There’s too much cronyism involved in our idiotic, overly complicated tax code

So how about people bitch about the law, not the people abiding by them.

 

[OohPooPahDoo]

Why is it people call it a loophole when other people use them, and a legitimate deduction when they do? It's all about abiding by the tax law, isn't it?

This is why Romney wanted to cut the overall tax rates and close loopholes…There’s too much cronyism involved in our idiotic, overly complicated tax code

Romney never told us which "loopholes" he was talking about. Probably because he never bothered to figure out which ones he was talking about. Why not just run on a campaign of making everything gooder and hey let's worry about the particulars later?

 

[Jroc]

Why is it people call it a loophole when other people use them, and a legitimate deduction when they do? It's all about abiding by the tax law, isn't it?

This is why Romney wanted to cut the overall tax rates and close loopholes…There’s too much cronyism involved in our idiotic, overly complicated tax code

So how about people bitch about the law, not the people abiding by them.

What law? There’s new crony deductions added and removed all the time the maybe people are just pointing out the hypocrisy of the leftist Obama lovers

 

[OohPooPahDoo]

This is why Romney wanted to cut the overall tax rates and close loopholes…There’s too much cronyism involved in our idiotic, overly complicated tax code

So how about people bitch about the law, not the people abiding by them.

What law? There’s new crony deductions added and removed all the time the maybe people are just pointing out the hypocrisy of the leftist Obama lovers

The stock option law that facebook is using has been on the books since 1969. Maybe there's some other "crony deduction" that was added by Obama that they are using? Please tell us which one it is. Thanks.


If you can't see the difference between deducting an actual expense from your profits (facebook) and having the taxpayers pay your foreign tax bill (exxon) then I wonder what the fuck is wrong with you.

 

[Jroc]

[ame=http://www.youtube.com/watch?v=gSgUENZ9O94]How Cronyism is Hurting the Economy - YouTube[/ame]

 

[OohPooPahDoo]

How Cronyism is Hurting the Economy - YouTube

You do realize that the refund that Facebook gets as a result of claiming the stock option expenses comes back to the government - pretty much dime for dime - from the employees who received the stock options and now much pay taxes on them - right?

So there's no net loss.

And frankly I'm not seeing what the problem is at all. Are you seriously arguing that companys should not be allowed to deduct employee compensation as an expense?

 

[Jroc]

So how about people bitch about the law, not the people abiding by them.

What law? There’s new crony deductions added and removed all the time the maybe people are just pointing out the hypocrisy of the leftist Obama lovers

The law that facebook is using has been on the books since 1969.


If you can't see the difference between deducting an actual expense from your profits (facebook) and having the taxpayers pay your foreign tax bill (exxon) then I wonder what the fuck is wrong with you.

What expense? Taxpayers don't pay shit for Exxon, The federal government makes plenty off of oil companies they also pay tax where they do businesses, they are worldwide multinational companies all Facebook did was move money around a scam and liberals don’t give a shit...Cronyism man ..Get it watch the video and learn something I’m against cronyism as a general principle by any company