Comments on: Why GM is More Bailout-Worthy Than Citigroup

By: James Cullen

James Cullen — Sat, 06 Dec 2008 12:22:11 +0000

Andrew Budd,
Your link doesn't work, but if I remember… it's because most of those "taxes paid" are really a non-cash valuation allowance to write-down their deferred tax assets, i.e. GM's way of saying they aren't going to be making a profit (and thus owing income tax) anytime soon.

By: Andrew Budd

Andrew Budd — Fri, 05 Dec 2008 05:17:25 +0000

Why has no one in the press pointed out that GM paid 37 Billion in Federal Taxes last year in addition to the federal taxes paid by their employees?

Is a 12 Billion loan request really all that unreasonable?

To verify: http://www.gm.com/corporate/investor_information/...