How do you feel that after the US government/taxpayer-financed restructuring, GM won't have to pay $45.4 billion in taxes on future profits?

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44%

Angered, this is a gross abuse of the tax shield implemented to protect small businesses that must declare bankruptcy.

22%

Resigned, it is what it is. We bailed them out, and because we wanted to take care of small business owners, they just walk away tax free.

22%

Relieved. It just goes to show that the system works. If a large company can come back from bankruptcy, there is more hope for smaller businesses.

I don't know.

11%

I have another answer. Comments, please.

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Poll Analysis

Angered, this i...
Resigned, it is w...
Relieved. It just...
I don't know.
I have another...

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And yet another blow for taxpayer funded bailouts, it seems that GM will not have to pay $45.4 billion in taxes on their future profits. This tax benefit comes from a provision which permits companies to use prior losses to shield their future profits from taxation for up to 20 years.
We're just hoping that this will at least trickle down to their workers and will not only be used to line their executives already fat pockets.

http://online.wsj.com/article/SB10001424052748704462704575590642149103202.html

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TAGS: GM, detroit, bailout, bankruptcy, tax breaks, tax shields, profits.

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