Um, let’s all remember one thing here: businesses do not pay taxes, period. Taxes are a cost of doing business that get passed along in the cost of the business’ product or service. Whoever buys the product or service pays the tax, not the business. The business merely collects it for the government.
It’s easy to get upset in a knee-jerk reaction here because we all hate GE, but in so doing, do we want to be espousing the benefits of taxation on business?
I don't want any company to pay taxes, because I know they just pass that expense down to the consumer who really pays it.
The problem, of course, is crony capitalism. GE actively works to support Obama's anti-American agenda, therefore GE gets the sweet deal and pays no taxes. The other companies? They get screwed and have to jack up their prices so that their consumers can pay the corporate tax bill.
It's not right.
How are income taxes passed onto consumers?
I agree with your tax assessment, however the prism through which we should view this is whether or not the same tax options were available to GE’s competitors.
Is GE simply taking advantage of tax laws or is the Obambi administration picking winners and losers like they have with the GM tax breaks?
Nobody likes taxes or wants business taxed. This is just a sign of the commie rule. There is the priveleged class that reaps the rewards and the rest of us who suffer and pay.
Very well said. I was going to post along the same lines and then read your post. I couldn't have said it any better so am re-posting it since it's worth repeating. I am amazed that even here on Free Republic that point is so easily lost. Corporate taxes, payroll taxes, etc. are the liberal favorites because they are hidden. I am a believer in the FairTax because you would see the taxes you are paying right on your receipt. The FairTax people also seem to forget that transparency is the biggest selling point because they get caught up in the argument of whether it would be 23% or 27% or whatever. The worry is that people will not go along with it because it is too high. The argument in return is "yes, yes it is too high." The number is set to make it revenue neutral and is what you are paying right now without realizing it. If it is too high, then lower government expenditures. It is not the FairTax fault if a revenue neutral percentage is too high. People need to see the true cost of the government.
Good points, and this article comes out in time for UK protests tomorrow against corporations to pay more taxes, calling the companies tax dodgers.
$0 taxes isn’t a problem for me. What IS a problem is all the kickbacks and subsidies they get. Plus they have become major rent seekers for favorable legislation that creates or shapes markets for them.
The problem is when only the specially politically favored companies like GE and GM are being given benefits not available to other companies.
This is a form of crony corruption.