KO report: Big business turns small for tax purposes

[maddezmom]

Some firms with billions in revenues get to pay less tax than traditional corporations Video
Countdown Special Report: Small in name only .Advertisement | ad info
updated 9/22/2010 9:51:10 PM ET
Share Print Font: +-A number of companies with multi-billion dollar revenues have been registered as small businesses for tax purposes, according to a report.

Among them were the "biggest companies in the world and the richest people in this country" Keith Olbermann said in a special report on his msnbc cable show Wednesday night titled, "Small Business in Name Only."

The term "small business" was an "utter misnomer," he claimed.

Because IRS tax returns are not public record, the names of companies were ascertained from public documents such as court records or the companies' postings:

Among the examples given on "Countdown with Keith Olbermann" were:

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Barack Obama and most of his fellow Democrats want tax cuts enacted under former President George W. Bush to be extended only for the first $200,000 of a person's income or $250,000 for a family, saying the country cannot afford the cuts for higher earners.

more: http://www.msnbc.msn.com/id/39317328/ns/politics/

video
http://www.msnbc.msn.com/id/21134540/vp/39316659#39316659

[Loudmxr]

1. You have to remember when a conservative uses a term again and again.. It's a lie.

Small businesses. Adding funds to Medicare. (Newt and Kachich years ago... i am still angry about that) Tax breaks. All lies.

[HillWilliam]

2. Why isn't this all over every blog, billboard, newscast

Silly question, entirely rhetorical, I know.

K&R.