General Electric doesn’t pay taxes

Posted: March 27, 2011 in Corporate World, Finance, Stock Market, USA
Tags: ,

Your nuclear reactor design destroys millions of people’s lives, you make more money than God. You’re an international conglomerate which has your hands into banking, insurance, and nuclear energy.  Yet you need not to pay taxes. Actually we are going to give you money from the taxpayer of $3 bil +. Yes I know most of America is on their knees begging for a paycheck, welfare check, unemployment, an answer, but you, YOU GE deserve the money more. Also, on top of that we are going to appoint your leadership as advisors to Obama, which will yes cost more tax payer dollars.

This has got to FUCKING STOP! This is blatant FUCKING FASCISM! People they don’t even hide it anymore. No need to pay, who watches the news? No one can afford cable, because they can’t afford to eat. Everyone is worried about eating and getting a job! Where do we go from here? What do we do? You vote people in on the Democrat side, they shaft you. You vote these Tea Party Republicans in, they sell their souls immediately. Some people say “well not all of them”. Oh I’m sorry, 2. We wasted all that campaign money and our life for 2 not to sell out.

Anyone also ever notice that Barry (obama) always says “we are going to put a stop to this………right after this last one”.

He is going to close corporate loopholes right after he allows all the big mega conglomerates to take advantage of it. So all new future corporations are screwed. This way these conglomerates have no competition. Future corporations will have a hard time competing in the market because they won’t have the capital to keep them afloat as they get shafted by the Fed as with the current ones.

He is not here to bail out fat cat wall street bankers except this list of all my buddies. Insane.

White House defends embrace of G.E. CEO despite report company didn’t owe taxes in 2010

Posted by Brian Montopoli

In January, President Obama named General Electric CEO Jeffrey Immelt to head the President’s Council on Jobs and Competitiveness, an economic advisory board focused on job creation.

 In his State of the Union address that same month, meanwhile, he called for the closure of corporate tax loopholes in conjunction with a lowering of the corporate tax rate, which stands at 35 percent.

“Over the years, a parade of lobbyists has rigged the tax code to benefit particular companies and industries,” he said. “Those with accountants or lawyers to work the system can end up paying no taxes at all. But all the rest are hit with one of the highest corporate tax rates in the world. It makes no sense. It has to change.”

 Mr. Obama’s choice of Immelt came under scrutiny Friday in the wake of a front-page story in the New York Times reporting that despite $14.2 billion in worldwide profits – including more than $5 billion from U.S. operations – GE did not owe taxes in 2010.

 In fact, the story said, G.E. claimed a tax benefit of $3.2 billion.

http://www.cbsnews.com/8301-503544_162-20047212-503544.html?tag=strip

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