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Thread: G.E.ís Strategies Let It Avoid Taxes Altogether

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    Re: G.E.ís Strategies Let It Avoid Taxes Altogether

    Quote Originally Posted by StillBallin75 View Post
    I don't have a real solution beyond what a lot of people are saying: Let's redo and simplify the entire tax code. But I think we can all agree that it's easier said than done.
    No doubt, but I hope that it doesn't cause us to jump from the frying pan, into the fire.

    Case in point: on another forum, a poster stated that there should be a 25% flat tax for corporations, on the gross revenue. I got a temp ban for simply telling that person how ****ing idiotic she really was.

    You can't fault a private entity for doing what's in its best interests.
    I sure as hell don't. I do it all the time. I wish Shewolf would share some info on how a corporation can get a tax refund.

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    Re: G.E.ís Strategies Let It Avoid Taxes Altogether

    Quote Originally Posted by apdst View Post
    No doubt, but I hope that it doesn't cause us to jump from the frying pan, into the fire.

    Case in point: on another forum, a poster stated that there should be a 25% flat tax for corporations, on the gross revenue. I got a temp ban for simply telling that person how ****ing idiotic she really was.



    I sure as hell don't. I do it all the time. I wish Shewolf would share some info on how a corporation can get a tax refund.
    I always make it a point to point out that people like to take out their frustrations on corporations because they are seen as big soulless entities that make billions in profits. But corporations are ultimately made up of individuals. You tax a corporation, the corporation will figure out to somehow push that cost down to its employees, or its customers.
    Nobody who wins a war indulges in a bifurcated definition of victory. War is a political act; victory and defeat have meaning only in political terms. A country incapable of achieving its political objectives at an acceptable cost is losing the war, regardless of battlefield events.

    Bifurcating victory (e.g. winning militarily, losing politically) is a useful salve for defeated armies. The "stab in the back" narrative helped take the sting out of failure for German generals after WWI and their American counterparts after Vietnam.

    All the same, it's nonsense. To paraphrase Vince Lombardi, show me a political loser, and I'll show you a loser.
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    Re: G.E.ís Strategies Let It Avoid Taxes Altogether

    Quote Originally Posted by digsbe View Post
    It is wrong that GE is actually paid. Many conservatives in America have had a problem with this. Their CEO is a very corrupt individual. He owns MSNBC and has a very strong relationship with the Obama administration.
    Stop with the charade. We all know the only reason GE can get away with paying no taxes is that Republicans have filled the corporate tax code with loopholes for decades, and demonize anyone as a "socialist" who proposes reducing or eliminating them. Anyone who tried to do anything about this would be lambasted as trying to "punish productivity." The same old corrupt BS from the people who brought us the Laffer curve and trickle-down economics.
    Last edited by Troubadour; 03-25-11 at 08:55 PM.

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    Re: G.E.ís Strategies Let It Avoid Taxes Altogether

    Quote Originally Posted by Troubadour View Post
    Stop with the charade. We all know the only reason GE can get away with paying no taxes is that Republicans have filled the corporate tax code with loopholes for decades, and demonize anyone as a "socialist" who proposes reducing or eliminating them. Anyone who tried to do anything about this would be lambasted as trying to "punish productivity." The same old corrupt BS from the people who brought us the Laffer curve and trickle-down economics.
    Not that I disagree with you, but do you have any evidence to back this up, and that it has ONLY been Republicans who have done this?
    Nobody who wins a war indulges in a bifurcated definition of victory. War is a political act; victory and defeat have meaning only in political terms. A country incapable of achieving its political objectives at an acceptable cost is losing the war, regardless of battlefield events.

    Bifurcating victory (e.g. winning militarily, losing politically) is a useful salve for defeated armies. The "stab in the back" narrative helped take the sting out of failure for German generals after WWI and their American counterparts after Vietnam.

    All the same, it's nonsense. To paraphrase Vince Lombardi, show me a political loser, and I'll show you a loser.
    - Colonel Paul Yingling

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    Re: G.E.ís Strategies Let It Avoid Taxes Altogether

    Quote Originally Posted by StillBallin75 View Post
    So J-mac are you referring to a system that purely relies on personal income?
    here you go...

    The FairTax plan is a comprehensive proposal that replaces all federal income and payroll based taxes with an integrated approach including a progressive national retail sales tax, a prebate to ensure no American pays federal taxes on spending up to the poverty level, dollar-for-dollar federal revenue neutrality, and, through companion legislation, the repeal of the 16th Amendment.

    The FairTax Act (HR 25, S 13) is nonpartisan legislation. It abolishes all federal personal and corporate income taxes, gift, estate, capital gains, alternative minimum, Social Security, Medicare, and self-employment taxes and replaces them with one simple, visible, federal retail sales tax administered primarily by existing state sales tax authorities.

    The FairTax taxes us only on what we choose to spend on new goods or services, not on what we earn. The FairTax is a fair, efficient, transparent, and intelligent solution to the frustration and inequity of our current tax system.

    The FairTax:

    Enables workers to keep their entire paychecks
    Enables retirees to keep their entire pensions
    Refunds in advance the tax on purchases of basic necessities
    Allows American products to compete fairly
    Brings transparency and accountability to tax policy
    Ensures Social Security and Medicare funding
    Closes all loopholes and brings fairness to taxation
    Abolishes the IRS
    We offer a library of information throughout this Web site about the features and benefits of the FairTax plan.

    Americans For Fair Taxation:
    or

    A flat tax (short for flat rate tax) is a tax system with a constant tax rate.[1] A flat tax may also be called a tax in rem ("against the thing"), such as an excise tax on gasoline of three cents per gallon. Usually the term flat tax refers to household income (and sometimes corporate profits) being taxed at one marginal rate, in contrast with progressive or regressive taxes that vary according to parameters such as income or usage levels. Flat taxes offer simplicity in the tax code, which has been reported to increase compliance and decrease administration costs.[2]

    Flat tax - Wikipedia, the free encyclopedia
    j-mac
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    Re: G.E.ís Strategies Let It Avoid Taxes Altogether

    Quote Originally Posted by Troubadour View Post
    Stop with the charade. We all know the only reason GE can get away with paying no taxes is that Republicans have filled the corporate tax code with loopholes for decades, and demonize anyone as a "socialist" who proposes reducing or eliminating them. Anyone who tried to do anything about this would be lambasted as trying to "punish productivity." The same old corrupt BS from the people who brought us the Laffer curve and trickle-down economics.
    I would love to know what those loopholes are, so I can not pay taxes, too.

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    Re: G.E.ís Strategies Let It Avoid Taxes Altogether

    At his press briefing Friday afternoon, White House press secretary Jay Carney was asked to square Mr. Obama's call for corporate tax reform with his embrace of Immelt. Asked if the story bothered the president, Carney responded that "he is bothered by what I think you're getting at, which is that Americans, I'm sure, who read that story or heard about it are wondering, you know -- you know, how this could be."

    Carney was asked why, if the president wants corporate tax reform, he appointed "to the head of the Competitiveness and Jobs Council a person who is now the poster child for abusing the system to get out of paying taxes."

    "The jobs and competitiveness council is designed for just that," Carney responded. "And he has brought together a lot of voices on that. And he wants to hear the opinions of every member of that council. And we have said, with regard to questions about other members who have been appointed, that the president obviously doesn't want a council of people who agree with him on every issue; he wants to hear diversity of opinion."

    "In the end, the decisions that are made about which policy to pursue on corporate tax reform will be the president's decision and his policy," he added.

    Carney said later that Mr. Obama continues to have faith in Immelt to run the council.
    White House defends embrace of G.E. CEO despite report company didn't owe taxes in 2010 - Political Hotsheet - CBS News

    embarrassed yet?

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    Re: G.E.ís Strategies Let It Avoid Taxes Altogether

    This only Partisan for the Left, Immelt is an Obama Boy.

    Quote Originally Posted by PeteEU View Post
    This thread is not about a partisan issue. US corporations pay very little if at all taxes but this is just the worst example I have seen and the tax code has not really been changed much for decades. I read another article that stated that while the US corporate tax rate is 35%, most companies pay less than 25% and some like GE nothing. Broadcom had an effective tax rate of 1.3% last year I believe. Apple had one of 25%.

    The problem is the loopholes companies have gotten put in the tax code over the decades, that allow such unpatriotic behaviour. GE and all companies that do not pay their full 35% in taxes should be nationalised and sold off in my opinion.
    Obama is NOT 50 feet tall, he is ONE inch deep.
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    Re: G.E.ís Strategies Let It Avoid Taxes Altogether

    nyt, FRONT PAGE today:

    The head of [GE's] tax team, Mr. Samuels, met with Representative Charles B. Rangel, then chairman of the Ways and Means Committee, which would decide the fate of the tax break. As he sat with the committeeís staff members outside Mr. Rangelís office, Mr. Samuels dropped to his knee and pretended to beg for the provision to be extended ó a flourish made in jest, he said through a spokeswoman.

    That day, Mr. Rangel reversed his opposition to the tax break, according to other Democrats on the committee.

    The following month, Mr. Rangel and Mr. Immelt stood together at St. Nicholas Park in Harlem as G.E. announced that its foundation had awarded $30 million to New York City schools, including $11 million to benefit various schools in Mr. Rangelís district. Joel I. Klein, then the schools chancellor, and Mayor Michael R. Bloomberg, who presided, said it was the largest gift ever to the cityís schools.
    http://www.nytimes.com/2011/03/25/bu...pagewanted=all

    how much can you take?

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    Re: G.E.ís Strategies Let It Avoid Taxes Altogether

    Want to balance the budget? Simple we know that people who make the most money pay the majority of taxes but they also create most of the jobs.

    A reform of the Tax laws that closed off most of the loop holes for corporations could close the gap between what comes in and what is spent. However it would have to include a new attitude among liberals who believe in punishing hard workers.

    We can do this if enough people are given the facts without any spin by someone who is known to be factual without the usual BS.

    Tax and spend Liberals are like a druggie who needs a fix and will not listen to reason.

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