What does Goldman Sachs actually do and what changes do they want in the 2013 U.S. budget?

Question

I have a assignment in class that I have to do these things...

-Provide background information on your group. Basically, this paper includes a short biography of your group. If your group is a corporation, explain its history (such as who founded it), what industry or industries it’s involved in, what kind of products it makes. If your group represents an entire industry, explain, again its history/origin and what kind of interests it advocates for. If your group is an issue advocacy group, explain its history/origin, which political issues it works on, and its perspectives on those issues.
-Identify areas of the budget that will benefit the group and explain why. Choose a minimum of three budget areas. Explain why the budget areas you choose are relevant to your group’s interests as well as the interest of the whole country.
-Propose a dollar amount for each area of the budget and justify each amount. Indicate whether it will be an increase or a decrease from last fiscal year’s amount.

I was easily able to just go on the site and copy and paste what Goldman Sachs does, but I got confused with the other two things.

I'm sure Goldman Sachs supports the Department of Commerce, Department of Housing and Urban Development, and the Department of Treasury, but other than that I need something that shows exactly what GS wants the U.S. government to give more money to / take away from. I've heard a lot that people think GS is running the world and government (which may be true haha) but I need some finite numbers on what GS wants to do with the 2013 U.S. budget (I'm basically representing a lobbyist for the company, so I need to know my stuff as I have to write this paper AND present in front of Senate - in class). So any links or documents showing very updated information on the company and what it supports would be EXTREMELY helpful. Like I said, I'm guessing GS would support Treasury, Commerce, and Housing & Urban Development, but Small Business Administration may be something else, I only need 3 though.

Answer 1

heres maybe a few helpful links

Answer 2

This Site Might Help You.



RE:

What does Goldman Sachs actually do and what changes do they want in the 2013 U.S. budget?

I have a assignment in class that I have to do these things...



-Provide background information on your group. Basically, this paper includes a short biography of your group. If your group is a corporation, explain its history (such as who founded it), what industry or industries it’s involved...

Answer 3

Goldman Sachs is the treasury and department of commerce.

Just look at the heads of each branch all former GS board members.

Needless to say they are a company with an agenda of their own. And they don't give a rip about the citizens or if they are struggling.

Dig deep my friend a lot of ugly dirt to be found on GS

Answer 4

Because rates aren't the only thing that determine the taxes that businesses pay. That's especially true of financing businesses. Your link says that the EFFECTIVE tax rate was so low because GS " lowered its rate with more tax credits as a percentage of earnings and because of “changes in geographic earnings mix,” the company said. What that means in plain English is that Goldman was running more of its financing transactions--and therefore was earning interest--in other jurisdictions besides the U.S. If GS was taxed in foreign countries on its financing transactions, then it received foreign tax credits (under sections 901 and 902 of the tax code) with respect to those foreign taxes. Another thing that benefited them was something called the "portfolio interest exception," which basically allows US corporations that earn "portfolio interest"--interest on certain types of investments--not to be taxed at all in the US. US companies may have the highest bottom-line tax rate, but it doesn't follow that they actually pay more taxes to the US than corporations in other countries. That's just a conservative myth. There are so many loopholes and dodges built into the US corporate tax (as a result of effective lobbying by corporations) that most corporations in fact pay far LESS than corporations in other countries.

Answer 5

You can read more about Union Budget 2013 at http://www.moneycontrol.com/budget2013/