Wednesday, December 06, 2017

Coal CEO Angry: business only works if tax rate is zero

"This wipes out everything that President Trump has done for coal," said Murray, the CEO of Murray Energy, one of America's largest coal companies. The tax bill the Senate passed last week would help companies by lowering the corporate tax rate, but it also eliminates some tax breaks. The House bill eliminates the AMT, something that would save Murray Energy and other companies money. The AMT prevents companies from claiming so many tax credits and deductions that they owe Uncle Sam nothing at all.

Comments

This is so damned funny.

#1 | Posted by Zed at 2017-12-06 10:32 AM

If your business plan requires a zero tax liability you need to get out of that business.

#2 | Posted by oldwhiskeysour at 2017-12-06 11:52 AM

Don't worry Coal CEO. Government is coming to save you be re-training your equipment operators to be coders. Silicon Holler. What could go wrong?

#3 | Posted by sitzkrieg at 2017-12-06 01:12 PM

Wait, isn't this the "mistake" that the "retarded GOP Senators" left in the Bill that was passed that somehow no one noticed that the DR Left was crowing about yesterday?

I will laugh long and hard if this survives reconciliation, which it should.

#4 | Posted by Rightocenter at 2017-12-06 01:22 PM

they're all about to get taxpayer billions to go blow the tops off the Grand Staircase-Escalante.
------- brlliant. we suck.

#5 | Posted by ichiro at 2017-12-06 07:49 PM

I will laugh long and hard if this survives reconciliation, which it should.

And I'll temper my criticisms of this tax "reform" to some extent.

Is my understanding correct that this basically means corporations will actually pay 20%, ie the statutory rate? Or does this mean they can't make their tax liability zero but still get it down to 2%?

#6 | Posted by jpw at 2017-12-06 10:54 PM

while the VA is imploding.

#7 | Posted by ichiro at 2017-12-07 12:26 AM

We are so screwed. Are they still accepting Americans in the PI?

#8 | Posted by fresno500 at 2017-12-07 07:27 AM

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