Advertisements
When Obama talks about closing loopholes for the rich. what he means is stealing money from the middle class to give to his rich supporters.
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.
Facebook Gets a Multibillion-Dollar Tax Break – Businessweek
Advertisements