GE make $5 billion in profits (in 2010, in the US alone) and pay no taxes

nooshinjohn

LessisNevermore wrote: »

His act is right on par, and just as un-funny as Carrot Top.

I have made a habit out of fact checking him, only to find his rhetoric to be truthful....

schwarcw

Obama names GE chief Jeffrey Immelt to head economic recovery advisory panel


The president sends a signal to the corporate world that he wants to mend a strained relationship.


January 22, 2011|By Jim Puzzanghera and Peter Nicholas, Los Angeles Times


President Obama's decision to tap General Electric Co. Chief Executive Jeffrey Immelt to lead an initiative on jobs and U.S. competitiveness highlights two key White House focuses: Obama wants to convince corporate America that his administration is not anti-business, and he wants to show average citizens that the economy is no longer on life support.

brettw22

Beck is a twit with a tv show.......that's not shocking to anyone that's ever seen him play with hand puppets in an effort to communicate with adults. Anyone that needs hand puppets, lederhosen, etc. to have a acid induced dream commmunicated to them should still be in diapers. Soon though, you'll be able to watch him on his own TV channel......lol.....yikes.

Utah has a business policy that grants tax breaks that are deferred as long as they initiate growth in Utah. If they don't grow jobs in UT, they don't get their taxes back as much as they would have........

F1nut

Classy Brett, real classy. :rolleyes:

amulford

How much do you need to have crammed down your throat before you friggin puke???
I am so sick of this crap.

They can already get out of paying enough of their fair share through "creative accounting" techniques. Now they get f@#$ing subsidies and research grants to ship our jobs overseas to pay a pittance to manufacture something and sell it here for top dollar. I mean enough to turn it into a positive cash flow! On my dime, and I for one am f#$king sick of it.

Don't even get me started about the fleecing of the common man through the financial markets...

How much is enough?

The common US citizen is already Taxed every which way you can possibly imagine. You have income taxes, sales taxes, fuel taxes, property taxes, travel taxes, luxury taxes, and even estate taxes to take more from what you already paid taxes on when you effin die!!! (And EVERY time you turn around, they're trying to come up with something else.) To what end? Finance Corporate welfare? What happens to that common man if they don't pay??

If it was any common citizen, they would be thrown in prison for tax evasion. How come we aren't seeing any prosecutions? Because of the loopholes and deferrments the lobbyists secure. Total systemic rot. Depoliticizing it won't help. You have to outlaw the lobbying, PERMANENTLY CLOSE the loopholes, make the CEO's look at hard time and worse (shudder): ASSET SEIZURE!!!:eek::eek::eek:

Yet all I hear all of these people, who would in fact be incarcerated if they pulled this ****, spout on and on how it spurs growth, the unions are evil, yadda yadda effin YADDA... Wake the hell up!!! This country is headed to the same condition we were in during the start of the industrial revolution, where there will be an elite few and the masses will have to struggle for mere survival.

You want growth incentive? Unless you provide real and sustainable growth within the borders we hit you at an exorbiant rate, say 60%. And by growth I don't mean increased sales. I'm talking job creation, increased production, etc., the type that will have a measurable impact on THIS economy through trickle down economics. If you do create the growth we'll halve it or better based on the amount of that verifiable real growth. That would prod me in the direction of expanding my domestic presence.

Now this is on PROFIT, which you wouldn't be able to generate WITHOUT YOUR WORKFORCE.

Do you have any idea how much money we are talking about if these corporations were made to pay an honest share of their profits? The amounts are staggering... And let's keep it real here, the shareholders are STILL going to make out. The corporate management is still going to do well. It's time to cut into the greed. I think it has been feeding on us for WAY too long now...

mrbigbluelight

Jstas wrote: »

You're treading a very thin line in an already hot topic that's been civil so far. I suggest you shy away from such incendiary topics here because they are not well received by the powers that be. You can have your opinions no matter how right or wrong others think they are. But if you feel the need to express them, do so in a civil and respectful manner. If you can't there are plenty more places on the Internet to have your heated discussion about decade old politics. Otherwise, you'll not endear yourself here and your stay will be short lived and no fun at all.

Srsly, dude, seen it happen in the past multiple times. Just some friendly advice. No harm, no foul

I'm ....... SPEECHLESS ! :eek:
That was well said.

slk55amg wrote: »

Thanks I am new here, I respect your advice and will follow it, thanks

Thanks to you for showing "How it can be done", re, manners.
Awesome.

F1nut wrote: »

As tempting as it is, I shall not comment on your comment about not commenting on Mr. Beck.

Being as I'm still speechless, I won't comment on your comment about not commenting about his comment about not commenting on Mr. Beck.
....... I think. :redface:

Liked to say again to slk55amg, Awesome !

inspiredsports

Why are you people arguing in FAVOR of taxes ????

While I'm not sure GE is a great poster child example, the last time I checked, companies/corporations hire and pay people just like you and me.

They buy tons of materials and services, creating jobs for those who supply those materials and services.

Rather than argue about who pays taxes, why don't we talk about ways to get rid of all of the programs governments spend money on and make the various local, state and federal tax rates approach zero.

People argue too that governments are great providers of roads and security, and that companies / corporations benefit from those. But I guess I'd like to see those benefits kept at an absolute minimum. If government roads and security didn't exist and companies needed those services, they would create them themselves.

(and thuffman03 was absolutely spot on in his post #25)

inspiredsports

tonyb wrote: »

Meh....I know what your saying, but thats life, we are not all created equal, we all don't share the same opportunities, the same brain power. To try an equal that out is playing Robin Hood.

I get what you are saying, but Robin Hood is a bad example. We was taking back what had been seized by the government. Communists, Socialists and Marxists are the ones trying to "equal things out". Robin Hood was none of the above.

inspiredsports

xcapri79 wrote: »

Because the topic is about GE Corporation and how little in taxes they actually paid through loopholes and incentives etc.. It isn't about Government spending.

So the conversation naturally led to discussion about the flat or the fair tax.

But by design, corporations should not pay taxes. They should always want to reinvest money they collect in things that help them create more wealth (like human resources).

We can argue about eliminating the loopholes that divert corporate spending elsewhere which are created by politicians, but the corporations aren't the problem.

It is in no way "unfair" if a corporation pays zero taxes.

What is "unfair" is the way our government spends money and then trys to sieze it from us.

inspiredsports

dkg999 wrote: »

OMG, don't give him that kind of power, we've just trained him to get along with others :rolleyes:

GE has the business mass to hire the best to incorporate a low tax liability strategy into their overall business plan. I would do the same thing if I were in charge of that business, and if the owners of GE (ie the share holders) feel differently they can vote to change that.

If we are going to change the business tax codes, then change them to incentivize businesses in the desired behaviours. So tie tax rates to employment, revenue/cost allocations in the US, etc. I'm all for businesses not paying any taxes as long as the tax revenue is given up in exchange for the desired behaviours.

I think you mean well, but let's rethink that. Why don't we leave corporations alone and let consumers of their products decide what their "behaviors" will be? Obama's Socialist advisor Cass Sunstein would be proud of your "incentivize businesses in the desired behaviours".

dkg999

inspiredsports wrote: »

I think you mean well, but let's rethink that. Why don't we leave corporations alone and let consumers of their products decide what their "behaviors" will be? Obama's Socialist advisor Cass Sunstein would be proud of your "incentivize businesses in the desired behaviours".

If you have corporate/business taxes at all your are in some way incentivizing a behaviour. I would agree with eliminating the corporate/business taxes entirely and letting shareholders and consumers direct the behaviour of the companies they vote with their dollars for.

slk55amg

In the 1950,s Corpoations paid 30% in taxes. Currently its less than 6%, the country has a revenue problem. Let,s keep our eye on the ball here.............................................................

inspiredsports

slk55amg wrote: »

In the 1950,s Corpoations paid 30% in taxes. Currently its less than 6%, the country has a revenue problem. Let,s keep our eye on the ball here.............................................................

Are you serious ????

The country DOES NOT have a revenue problem. The country has a SPENDING problem.

dkg999

Solving the revenue problem via higher corporate/business taxes is not a sustainable solution to the problem.

slk55amg

Yup unfortunately those are FACTS!

slk55amg

dkg999 wrote: »

Solving the revenue problem via higher corporate/business taxes is not a sustainable solution to the problem.

Why not? Most people feel the country worked pretty well in the fifties and sixties....

tonyb

Antny makes some good points, and touches on how most americans feel. Add to that the media who points fingers at what bad guy to hate this month. Oil companys one month,banks the next, big bad corporations, wall street, then unions, and the list goes on. Good ol Ronnie Reagan said it best, "Government is the problem". When the government starts having the power to pick and choose winners and losers, you have people who will pay them to pick their side as a winner. When the president, any president, has the power to appoint czars, make recess appointments, your side stepping congress and making them irrelevant. Then you have an ever growing government who lacks any accountability. Agency upon agency, this one answers to that one who answers to another and so on. So when something happens, the blame game goes on for months even years. Take the finacial crisis, anybody in government go to jail, get fired ? Nope, your attention is quickly turned to the next crisis looming, and a bad guy pointed out to attack.
Most people will agree, when you have a company like G.E. who can get away with limited or no tax burden, and the average joe is taxed up the wazoo, something isn't right. Yet nobody in congress adresses that. Why do you think ? If government does one thing well, it's to self preserve itself above all, and anything that takes money out of it's pockets or power will be quickly shot down. Regardless of what side of the isle you sit on. Hence the call for a get back to the constitution style of governing. Now that doesn't work too well for those on the entitlement programs, both private and corporate, so now those who call for an end to those programs will be a "bad guy", another flavor of the month to attack so the powers at be can continue fleecing the citizens. Unless you limit the money, and I've said this before, nothing will change. We can get mad about these stories like G.E., but it falls on deaf ears down in Washington. Instead you are directed to pay attention to laws created to save you from yourself like bike helmuts, kids in the back of pickup trucks, green lightbulbs, and so on. Pay attention to actions,not words. The old saying of "follow the money" rings so true. The only weapon we have left is our vote, use it wisely.

slk55amg

I have been advised to not get "political) I want and plan to follow that advice, many of you are to young to recall, the country was in good shape when Jack Kennedy was our President.....................

tonyb

slk55amg wrote: »

In the 1950,s Corpoations paid 30% in taxes. Currently its less than 6%, the country has a revenue problem. Let,s keep our eye on the ball here.............................................................

Have something to back that up ? As I understand it, we have the highest corporate rate in the world next to Japan, who btw, is about to lower theirs making us the top dog.

tonyb

slk55amg wrote: »

I have been advised to not get "political) I want and plan to follow that advice, many of you are to young to recall, the country was in good shape when Jack Kennedy was our President.....................

Oh...the guy who said " Ask not what your country can do for you,but what you can do for your country"....that guy ?

Seems alot are asking today what their country can do for them. No?

slk55amg

My data comes from the " Economic policy Institute"

slk55amg

tonyb wrote: »

Oh...the guy who said " Ask not what your country can do for you,but what you can do for your country"....that guy ?

Seems alot are asking today what their country can do for them. No?

" That guy"? Yes John Fitzgerald Kennedy

tonyb

slk55amg wrote: »

My data comes from the " Economic policy Institute"

http://www.sharedprosperity.org/

Another share the wealth org., you can do better. Betcha it's a Soros funded organization.

tonyb

slk55amg wrote: »

" That guy"? Yes John Fitzgerald Kennedy

Well, I kinda like the guy to tell the truth, and if you did too, you should listen to his words and stop asking the government to solve your problems.

txcoastal1

Inspired is correct ....for example as oil has gone up, the field workers have gone drilling(try finding a motel in central TX), the engineers are filling the empty floors of office building, manufacturing including GE materials has exploded I know this because I have been installing extra security cameras and access control system add-ons like crazy these last 3-months

When big corporate gets busy they expand pretty quickly and trickle down economics goes into play....people spend more and a nice blanket of tax revenues flows...

Stick it to big corporate and they will move or shut it down to minimal

slk55amg

The " government" has never during my lifetime solved any of my problems. However I am not opposed to that circumstance changeing..........................................

tonyb

txcoastal1 wrote: »

Inspired is correct ....for example as oil has gone up, the field workers have gone drilling(try finding a motel in central TX), the engineers are filling the empty floors of office building, manufacturing including GE materials has exploded I know this because I have been installing extra security cameras and access control system add-ons like crazy these last 3-months

When big corporate gets busy they expand pretty quickly and trickle down economics goes into play....people spend more and a nice blanket of tax revenues flows...

Stick it to big corporate and they will move or shut it down to minimal

You mean trickle down economics...works ? Won't be long before someone tells you your wrong.

Btw-How you liking that 79avi, I have the 59avi and love the thing.

slk55amg

xcapri79 wrote: »

John F. Kennedy was a fiscal conservatve. He cut taxes.

Correct, however check out who benefited from those tax cuts. The configuration of President Kennedy,s tax cut was very diffrent than the tax cuts of the last 10 years.

txcoastal1

tonyb wrote: »

You mean trickle down economics...works ? Won't be long before someone tells you your wrong.

Btw-How you liking that 79avi, I have the 59avi and love the thing.

Well if they don't understand one of the biggest reasons the States are having larger than usual budget shortfalls is because unemployment and people not spending money generating tax revenues...Then they need to go back to school....and my 79avi is great took awhile to test cables but once I got the synergy together it rocks

tonyb

Kennedy believed mostly in demand side, Reagan and Bush did supply side, both have value, up to a point. Regardless, if you believe that letting people keep more of what they make, thus spending more, would be good for the economy, then cool. Useing other peoples money to put in the hands of those who will spend it only means after they spent it, your back to square one. Not sustainable imho.