The US is a financial basket case and if they don't get their house in order they'll take the world down with them.
In the US they have been pushed to the brink and finally have to cut spending, but Republicans don't want the richest to pay their fair share.
From NY Times and Forbes I quickly found this tit bit that might explain one part of the problem:
General Electric, the nation’s largest corporation, had a very good year in 2010.
The company reported worldwide profits of $14.2 billion, and said $5.1 billion of the total came from its operations in the United States. Its American tax bill? None. In fact, G.E. claimed a tax benefit of $3.2 billion.
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Bank of America paid zero federal income taxes in 2010 and even received a tax break of a billion dollars — not to mention the tens of billions in bailout money they received from the government after the financial meltdown ion 2008.
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Exxon-Mobil, the world’s second-largest company, paid nothing in taxes to the United States government for fiscal year 2009.
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-BOEING: Despite receiving billions of dollars from the federal government every single year in taxpayer subsidies from the U.S. government, Boeing didn't "pay a dime of U.S. federal corporate income taxes" between 2008 and 2010.
In the US they have been pushed to the brink and finally have to cut spending, but Republicans don't want the richest to pay their fair share.
From NY Times and Forbes I quickly found this tit bit that might explain one part of the problem:
General Electric, the nation’s largest corporation, had a very good year in 2010.
The company reported worldwide profits of $14.2 billion, and said $5.1 billion of the total came from its operations in the United States. Its American tax bill? None. In fact, G.E. claimed a tax benefit of $3.2 billion.
---------------------------------------------
Bank of America paid zero federal income taxes in 2010 and even received a tax break of a billion dollars — not to mention the tens of billions in bailout money they received from the government after the financial meltdown ion 2008.
-------------------
Exxon-Mobil, the world’s second-largest company, paid nothing in taxes to the United States government for fiscal year 2009.
--------------------------------------
-BOEING: Despite receiving billions of dollars from the federal government every single year in taxpayer subsidies from the U.S. government, Boeing didn't "pay a dime of U.S. federal corporate income taxes" between 2008 and 2010.