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From:
Date: 7/6/01
Time: 2:21:49 PM
Remote Name: 159.230.193.61
I don't know if your statement about Alcoa is factual, but for the sake of argument, let's assume that it is.
What do you suppose Alcoa would do with that $399 million?
The could...
Pay dividends to 401k or IRA owners like you and me. Donate money to charities, schools, hospitals, etc. Invest in stocks, bonds, etc., thus helping to stimulate the economy. Put it in the bank, thus providing money for new businesses to get started, college loans, home loans, etc. Provide bonuses to their employees, including whopping bonuses to their fat-cat executives. Of course, bonuses are taxed at 40% automatically. The government coffers fatten. Invest in new equipment or R&D, which helps them become more productive, provide more jobs, etc.
Have I said anything negative?
Your outrage shouldn't be that Alcoa DIDN'T pay taxes. Your outrage should be that we DID.