Don’t know much…


about corporate taxes. But, if I understand right the idea behind the bailouts that if we save the companies then eventually they will have profits that can be taxed, correct. I mean besides the idea that by saving the companies the economy problems will be resolved. Besides the fact that already it has been shown that these companies that require the bailout suddenly seem to have surprise losses, after paying their CEOs and others huge bonuses because they have been running the companies so well. Suddenly, they need taxpayer money to help them over this hump of bad luck they are having due to the economy. So, I guess as taxpayers, we can look forward to their tax dollars once they get back on their feet. Not so, from what I have heard, they can file carrybacks for the last couple of years to get taxes back on the profits they have had in these years. Then, if they have a big enough loss, what is left can be carried forward for 15 years. So, in other words, it will be a long time before the federal government sees any tax dollars from a lot of these corporations.

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