Posted on 03/25/2011 11:27:42 AM PDT by bilhosty
General Electric, the nation’s largest corporation, had a very good year in 2010. The company reported worldwide profits of $14.2 billion, and said $5.1 billion of the total came from its operations in the United States. Its American tax bill? None. In fact, G.E. claimed a tax benefit of $3.2 billion.
(Excerpt) Read more at nation.foxnews.com ...
See how conservative the scum of the country club can be when they dont have to pay taxes? They care about there loopholes and tax cuts and beyond that they dont care if they print left propaganda. Some times I think that Consrvatives are bascially the only ones who pay taxes. I posted to Fox befause I did not want to link to the NYT.
So, where are all these Wall Street and corporate bashing liberals? Where’s Michael Moore?
I know where Jeffrey Immelt is. He’s usually on Air Force One when the Worshipped One is jet setting around the world. It’s good to OWN the king.
Jeffery Immelt. Obama’s new BFF.
That says enough.
How corrupt and crony is this administration?
I just went to run an errand, and son had on station with the life White House presser. Instead of turning to Rush as I normally would do, I stayed with the presser which was for once even more entertaining than Rush!
Carney was spinning and twirling and twisting trying to answer repeated questions about how Brackets could have Immelt, the GE chairman, the very “poster boy” for corporate tax evasion, as chairman on his counsel on jobs and incentives (whatever it’s called). It was great! Catch a rerun or on youtube if you can.
I haven’t looked at it and the article doesn’t say too much, but I’d assume GE and many other companies have plenty of loss carryforwards from the last few years to eliminate any taxes for some time.
2010 GE 10K - GE paid 2.671 BILLION in net US income taxes
so, the story is a LIE (per usual)
http://www.ge.com/ar2010/pdf/GE_AR10.pdf
Crony Capitalism at work.
GE CEO: “We are all Democrats Now”
http://www.economicpolicyjournal.com/2009/11/ge-ceo-we-are-all-democrats-now.html
now I get what he meant! Charlie Rangel, Tim Geithner,
Tom Daschle...
To say that GE is liberal based on their ownership of G.E. is quite a stretch. They are the 2nd largest conglomerate in the world, and are selling NBC to Comcast.
They are indeed selling NBC to comncast. That means they held it for all of these years. It is so easy to be liberal when you are not the one paying the taxes(it doesnt matter whether you are rich or poor).
GE has accumulated $26 billion in American profits while receiving a net benefit of $4.1 billion from the IRS
Wow.
Bill O’Reilly used to go after Immelt but he’s been pretty quiet lately. I guess because GE is one of his sponsors.
So very much corruption apparent, and so very few dots to connect. (Ayers, Rezko, Stern, Immelt, and others are "dots", there are of course others.)
bilhosty
The point is that all corporations are not being treated the same. The government has NO BUSINESS playing favorites.
Plus there should be no such thing as corporate welfare.
seaplaner:
Its like a chapter right of an Ayn Rand novel
Corporations pay tax on profits but they recover the cost by charging higher prices for their goods and services. They must make a profit. The tax cost is passed on to the consumer. Consumers pay the corporate tax and on top of that they are likely to pay a sales tax as well. Corporate taxes are an indirect way of getting more taxes from the people.
I wonder why Obama gave them a bailout?
I wonder why Obama gave them a bailout?
And what tax law did they break exactly?
Corporations pay tax on profits but they recover the cost by charging higher prices for their goods and services. They must make a profit. The tax cost is passed on to the consumer. Consumers pay the corporate tax and on top of that they are likely to pay a sales tax as well. Corporate taxes are an indirect way of getting more taxes from the people.”
So therefore there is no reason for them to worry about higher taxes and should not do everything they can to get out of them, is there?
“And what tax law did they break exactly?”
being phoneies and stabbing us in the back. That may not be against the law but that iss what they are doing to us. A rich liberal is just a country clubber who doesnt pay taxes.
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