Monday, March 7, 2016

27 Profitable Companies Escape Paying Any Taxes ...

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Isn't there something ever so slightly wrong with this picture?


USA TODAY - Death and taxes are supposed to be two certainties of life. But a few companies have at least escaped the taxes part. Investors, though, don't seem all that impressed.

There are 27 companies in the Standard & Poor's 500, including telecom firm Level 3 Communications (LVLT), airline United Continental (UAL) and automaker General Motors (GM), that reported paying no income tax expense in 2015 despite reporting pre-tax profits, according to a USA TODAY analysis of data from S&P Global Market Intelligence.

Only profitable firms were included in the analysis since firms that lost money - like many energy companies - wouldn't be expected to pay taxes.

Escaping the taxman, so far, hasn't been an advantage at least in the eyes of investors. Shares of the companies that paid no taxes are down 11% on average over the past 12 months, which is more than twice the 4.8% decline by the S&P 500 during the same period.

More BELOW THE FOLD.


Via: Memeorandum

4 comments:

  1. Les... If we take standard conservative dogma... Those companies don't pay taxes... They just pass the expense onto you and me anyways...

    It is unsettling that in spite of big financial gains, they pay little or nothing...

    ReplyDelete
    Replies
    1. I worked for a large company as a plant manager for several years and my focus was always on making a profit. Profit is the only real reason why folks work and people start and continue to operate a business.

      The company I am speaking of was, at least until the mid 80's, a socially responsible company. Companies that reap huge financial rewards and pay nothing to support the communities and nation they live and work in is disgraceful.

      Delete
  2. You are sounding more and more levels Iike a liberal democrat. (I mean that as a complement.)

    ReplyDelete
    Replies
    1. Thanks jerry, I'm sure you do mean it as a compliment.

      I have basically always been an individualist and believe everyone should be an individualist, but that is just me. I support many of the issues liberals have on their agenda, I also support fiscal responsibility, a philosophy of maintaining reasonably balanced budgets, gradually over many, many years paying down the national debt, true free trade(I assume you know what I mean), and protecting human rights and civil liberties for all. Each true conservative principles imo.

      Frankly Jerry labels have come to mean jack sh*t in my view. I learned in managing a business and being responsible for people that it makes sense to first identify points of agreement, build on those, and then work to resolve differences, always looking for the win-win rather than the we win you lose scenario. Of course I was occasionally constrained by compay policy and my upper management.

      Delete

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