Monday, January 4, 2010

But of course

The whole idea of successful predation is to seize the taxpayer's money--NOT pay taxes.
Goldman Sachs’s Tax Rate Drops to 1%, or $14 Million (Update1)
By Christine Harper
Dec. 16 (Bloomberg) -- Goldman Sachs Group Inc., which got $10 billion and debt guarantees from the U.S. government in October, expects to pay $14 million in taxes worldwide for 2008 compared with $6 billion in 2007.
The company’s effective income tax rate dropped to 1 percent from 34.1 percent, New York-based Goldman Sachs said today in a statement. The firm reported a $2.3 billion profit for the year after paying $10.9 billion in employee compensation and benefits.  more

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