Study estimates that illegal immigrants paid $11.2B in taxes last year, unlike GE, which paid zero

[proud2BlibKansan]

I bet most of you didn't know undocumented immigrants contributed more - much more - to the national treasury last year than General Electric. Surprised? Yet it's true.

While GE - which earned a whopping $14 billion last year - is reported to have paid nothing, nada, zero in taxes (GE denies it), the undocumented paid billions in state and local taxes in 2010.

No, it's not me talking; it's the Institute for Taxation and Economic Policy (itepnet.org), a prestigious, nonprofit, nonpartisan research organization that works on federal, state and local tax policy issues.

Obviously the old saying, "Nothing is certain but death and taxes," is not to be believed anymore. Or rather, only half of it can be believed.



Read more: http://www.nydailynews.com/ny_local/2011/04/20/2011-04-20_undocumented_unlike_rich_pay_plenty_in_taxes.html#ixzz1KIf8brhk

[Turbineguy]

1. Obviously

Illegal immigrants should employ better accountants.

[EmmettKelly]

2. Illegal immigrants might just want to get their CEO appointed

To a White House advisory committee. Seems to work for GE.

[frylock]

10. oh SNAP!

:bounce:

[blondeatlast]

3. I'd like to say I'm shocked--but I'd be lying if I did.

Nothing, but nothing, surprises me anymore.

[izquierdista]

4. Which half?

Corporations don't die, so how can they be expected to pay taxes?

[RB TexLa]

5. I don't understand, you say in the first line, it was to the national treasury

in the second line you say state and local. Are you claiming that GE paid not one cent in property tax to any jurisdiction in the world last year? You really believe that?

[proud2BlibKansan]

6. I didn't say anything.

I posted an article.

[RB TexLa]

8. Then it's hard to tell if they are talking about federal or state and local

[proud2BlibKansan]

9. It's not written very well

The article claims that undocumented workers are paying more in federal taxes than GE. But then it lumps in state and local taxes too. But I would imagine GE pays property taxes.

[robinlynne]

7. amazing!!!!

[badtoworse]

11. Let's just deal with the illegal immigrants. GE is a red herring

There are 10 -20 Million illegal immigrants in the US. Let's make the math easy and say 11 million illegals contributing a whopping $11 Billion - that works out to about $1,000 in taxes per illegal - big deal (it might cover one trip to the Emergency Room). What does the average citizen or legal resident pay in taxes? A lot more than $1,000!! As far as I'm concerned, I'd be very happy if they took their $1,000 and went back where they belong. I know it sounds heartless, but I gotta believe they're costing us a lot more than the $1,000 they're paying in taxes.

If GE is not complying with the tax laws, then fine their asses. If they are, then it's our fault for having crappy tax laws.

[proud2BlibKansan]

12. Actually they aren't costing us more

I also don't see GE as a red herring. Why should they be allowed to pay no federal taxes while even the undocumented pay?

[badtoworse]

14. GE had huge losses in 2008 that they can carry forward against future income.

All businesses are allowed to do that under the tax code and they do. When those operating losses have been used up, GE will once again have taxable income and will pay taxes - it might take another year or so, I'm not sure.

[Morning Dew]

13. Heh. I misread that as $11.28 and it's still more than GE.

:rofl:

shoulda had my glasses on.