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<p>[QUOTE="Owle, post: 1385770, member: 22004"]Good points. Various accounting methods are frankly Greek to me. I once thought audit rates were high enough so that none of the big boys could hide. Obviously I'm mistaken; plus you have the legal tax avoidance that David Cay Johnston and the New York Times does a good job of covering. Apparently AIG scored a huge profit recently, no taxes, like GE.</p><p><br /></p><p>"Bending the Tax Code, and Lifting A.I.G.’s Profit | Last week, the American International Group reported a whopping $19.8 billion profit for its fourth quarter. It was a quite a feat for a company that was on its death bed just a little over three years ago, so sick that it needed a huge taxpayer bailout..."</p><p><br /></p><p><a href="http://dealbook.nytimes.com/2012/02/28/morning-take-out-430/?scp=1&sq=AIG%20taxes&st=cse" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://dealbook.nytimes.com/2012/02/28/morning-take-out-430/?scp=1&sq=AIG%20taxes&st=cse" rel="nofollow">http://dealbook.nytimes.com/2012/02/28/morning-take-out-430/?scp=1&sq=AIG%20taxes&st=cse</a>[/QUOTE]</p><p><br /></p>
[QUOTE="Owle, post: 1385770, member: 22004"]Good points. Various accounting methods are frankly Greek to me. I once thought audit rates were high enough so that none of the big boys could hide. Obviously I'm mistaken; plus you have the legal tax avoidance that David Cay Johnston and the New York Times does a good job of covering. Apparently AIG scored a huge profit recently, no taxes, like GE. "Bending the Tax Code, and Lifting A.I.G.’s Profit | Last week, the American International Group reported a whopping $19.8 billion profit for its fourth quarter. It was a quite a feat for a company that was on its death bed just a little over three years ago, so sick that it needed a huge taxpayer bailout..." [URL="http://dealbook.nytimes.com/2012/02/28/morning-take-out-430/?scp=1&sq=AIG%20taxes&st=cse"]http://dealbook.nytimes.com/2012/02/28/morning-take-out-430/?scp=1&sq=AIG%20taxes&st=cse[/URL][/QUOTE]
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