Comments on: Goldman Sachs’ Tax Rate Drops To 1%? http://donklephant.com/2008/12/17/goldman-sachs-tax-rate-drops-to-1/ Big Teeth. Huge Ass. Surprisingly Reasonable. Sun, 22 Nov 2009 23:08:28 -0800 http://wordpress.org/?v=2.8.4 hourly 1 By: Rich Horton http://donklephant.com/2008/12/17/goldman-sachs-tax-rate-drops-to-1/comment-page-1/#comment-432727 Rich Horton Thu, 18 Dec 2008 16:51:53 +0000 http://donklephant.com/?p=12161#comment-432727 Actually, I hate to nitpick more, but it isn't a $5.86 billion NOR a $5.986 billion tax break. You would have to start the tax based upon this years profit, which is only $2.3 billion total. I'm not saying that $14 million sounds right either. But I'm certain we cannot expect them to pay a tax that is twice of their total profits (which as written is what this story says.) Actually, I hate to nitpick more, but it isn’t a $5.86 billion NOR a $5.986 billion tax break. You would have to start the tax based upon this years profit, which is only $2.3 billion total.

I’m not saying that $14 million sounds right either. But I’m certain we cannot expect them to pay a tax that is twice of their total profits (which as written is what this story says.)

]]> By: Surabaya Stew http://donklephant.com/2008/12/17/goldman-sachs-tax-rate-drops-to-1/comment-page-1/#comment-432412 Surabaya Stew Wed, 17 Dec 2008 18:27:00 +0000 http://donklephant.com/?p=12161#comment-432412 Not to nitpick Justin, but its actually a $5.986 billion tax break. $5.86 billion from $6 billion leaves $140 million (or $0.14 billion), and as you say, GS is only paying $14 million in taxes this year. Otherwise thanks for the info; I have yet to hear of this ongoing nonsense on other sites! Not to nitpick Justin, but its actually a $5.986 billion tax break. $5.86 billion from $6 billion leaves $140 million (or $0.14 billion), and as you say, GS is only paying $14 million in taxes this year. Otherwise thanks for the info; I have yet to hear of this ongoing nonsense on other sites!

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