[Yardstick]

Last year, GM recorded its highest profit ever during the company’s 103-year history.

Is this correct? And does the profit include bailout money or is this real profit?

[jazusamo]

I think it's true. I believe there was a no corporate tax 10 year clause in the bailout. Here's an article from Modica.

excerpt:

"In 2011 ExxonMobil made about $73 billion and paid about $31 billion in tax. That is a tax rate of greater than 40%; assumedly more than Warren Buffett's secretary. The much heralded GM made about $9 billion. General Motors not only did not pay any taxes on the income, they received a benefit of $110 million."

Which Pays Fair Share of Taxes, ExxonMobil or GM?