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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

    The results of GE’s tight relationship with the Obama administration are starting to show.

    The company’s CEO, Jeffrey Immelt, went from being an Obama ally on green energy to being one of his top outside advisers on the economy in the last two years.

    In the process, The New York Times reports, GE had one of its best years in 2010, in part by getting a huge tax benefit from Uncle Sam.

    Last year, the company paid nothing to the government. Instead, the government paid GE $3.2 billion in tax breaks.

    “Its extraordinary success is based on an aggressive strategy that mixes fierce lobbying for tax breaks and innovative accounting that enables it to concentrate its profits offshore,” according to The Times.
    Offshore jobs boost GE, a W.H. ally | POLITICO 44

    how much can you take?

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

    Quote Originally Posted by The Prof View Post

    Yeah, how much should we take?

    GE's Political Contributions:
    Total Contribution Dollar Amount to Republicans $1,790,614
    (19% of total)
    Average Contribution Dollar Amount to Republicans $1,184
    Total Contribution Dollar Amount to Democrats $1,524,485
    (16% of total)
    Average Contribution Dollar Amount to Democrats $917
    General Electric Company - Money,Politics,Campaign Contributions,General Electric Company



    "I have been thinking that I would make a proposition to my Republican friends... that if they will stop telling lies about the Democrats, we will stop telling the truth about them."
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    Re: G.E.ís Strategies Let It Avoid Taxes Altogether


    Didn't you already post this link?

    So? I would think that since GE contributes more to Republicans, most Reps/cons would be happy to have one of their own in the middle of things - but, most, of course can't think that far ahead.



    "I have been thinking that I would make a proposition to my Republican friends... that if they will stop telling lies about the Democrats, we will stop telling the truth about them."
    --Adlai Stevenson, Politician





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

    Quote Originally Posted by mertex View Post
    Didn't you already post this link?

    So? I would think that since GE contributes more to Republicans, most Reps/cons would be happy to have one of their own in the middle of things - but, most, of course can't think that far ahead.
    Those who can't think that far ahead are those that try to make a partisan issue out of what amounts to Congress' complete ineptitude and self-serving bull**** that's gotten us into this mess. What is so damned hard to admit about that??

    It's Congress, people. Both parties. Each and every one of them. We're busy blaming Dems or Reps when we should be busy blaming both.
    The devil whispered in my ear, "You cannot withstand the storm." I whispered back, "I am ​the storm."

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

    Quote Originally Posted by MaggieD View Post
    Those who can't think that far ahead are those that try to make a partisan issue out of what amounts to Congress' complete ineptitude and self-serving bull**** that's gotten us into this mess. What is so damned hard to admit about that??

    It's Congress, people. Both parties. Each and every one of them. We're busy blaming Dems or Reps when we should be busy blaming both.
    Which is what my posts have tried to uncover - I'm not trying to make a partisan issue, if that is who you are directing the comment I made about not being able to think that far ahead. Cons have tried to insinuate that Immelt's appointment by Obama is somehow connected to GE paying Zero taxes - I'm trying to show them that Reps get more contributions than Dems from GE.

    As usual, their insinuations are contradictory!



    "I have been thinking that I would make a proposition to my Republican friends... that if they will stop telling lies about the Democrats, we will stop telling the truth about them."
    --Adlai Stevenson, Politician





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

    Quote Originally Posted by mertex View Post
    So?
    LOL!

    ge's ace tax attorney goes on bended knee to CHARLIE RANGEL and gets his wish

    ge makes 14B, 9B from operations moved OFFSHORE

    and obama picks MR IMMELT to be his JOBS CZAR

    no big deal, business as usual at obama's white house

    A second stimulus for K Street? - Chris Frates - POLITICO.com

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

    Quote Originally Posted by PeteEU View Post
    Does not matter. Maybe the very threat will make these corporations not use tax loops to avoid paying taxes. For all I care it could be sold back to the former owners/shareholders or random people. Point is these corporations have so much power in the US (and in other countries too btw), that they can form their own tax policy to avoid taxes and yet be a huge burden on the country on many fronts. They are in principle no different than the dead beat dads or single moms living of welfare.. with one exception.. these companies earn billions.

    Do you really think that the corporations would allow lawmakers to gut the tax code so that they would be forced to pay their fair share of taxes? They would complain, threaten to pull funding to said politicians and what not.

    But what I do admire is Wal-Mart.. seem they pay near their full share of taxes in the US... kudos.
    Yea, they just don't pay their fair share of employees. How many lawsuits against GE have their been by employees being abused, not paid, etc etc? How many for Wal Mart?

    Typical liberal, being proud of a company for giving money to daddy gov't but employees be damned. Good little company! Give give give! It's not hard to write the tax check when don't write the paycheck.
    Last edited by dontworrybehappy; 03-27-11 at 05:07 PM.

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

    Quote Originally Posted by The Prof View Post
    LOL!

    ge's ace tax attorney goes on bended knee to CHARLIE RANGEL and gets his wish
    LOL is right! Who was granting wishes in 2007/2008? Check out their tax rate the last two years of the Bush admin.....

    Avoiding taxes is nothing new for General Electric. In 2008 its effective tax rate was 5.3%; in 2007 it was 15%. The marginal U.S. corporate rate is 35%.
    What The Top U.S. Companies Pay In Taxes - Forbes.com

    But why the whining? I thought Reps/cons were in favor of millionaires getting tax cuts? They create the jobs, the less they pay the better, as far as conservatives are concerned, why the crying now? Are they crocodile tears?

    ge makes 14B, 9B from operations moved OFFSHORE
    Guess under what administration outsourcing became popular?

    Probably the question most people want to know is how many U.S. jobs have been lost to outsourcing? According to Techsunite.org, over 500,000 jobs have been outsourced since the year 2000. There have also been over 250,000 additional jobs lost due to outsourcing. The biggest culprits of outsourcing are IT companies.
    Facts and Figures on Outsourcing | LoveToKnow

    Guess who wants to keep tax breaks for companies that outsource?

    Washington (CNN) Ė Senate Republicans successfully blocked a bill from coming to the Senate floor Tuesday that Democrats claim would help keep American jobs from going overseas.
    Republicans call it nothing more than a pre-election political ploy.
    The Democratic bill would have ended certain tax breaks for companies expanding overseas while giving new tax incentives to businesses bringing jobs home.

    GOP blocks Democratsí jobs outsourcing bill Ė CNN Political Ticker - CNN.com Blogs

    and obama picks MR IMMELT to be his JOBS CZAR
    Maybe not so good, since Immelt tends to lean right? ROFLMAO!

    no big deal, business as usual at obama's white house
    Not as long as Republicans block bills that would raise the tax rates for the wealthy!
    They create the jobs, only there haven't been too many jobs created by these tax cuts? Hmmmmmmm



    "I have been thinking that I would make a proposition to my Republican friends... that if they will stop telling lies about the Democrats, we will stop telling the truth about them."
    --Adlai Stevenson, Politician





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

    Quote Originally Posted by Troubadour View Post
    Of course it hasn't only been Republicans, it's just that it's the raison d'etre of today's Republican Party and at least philosophically antithetical to Democrats. But given that the GOP has been monotonously demanding and providing a bottomless supply of new corporate tax cuts for thirty years, and still claims that somehow we have a "hostile business climate" (i.e., they're not allowed to enslave people or hire 5-year-olds) what is the source of your doubt? I'll find the information if you can articulate what you're specifically asking for.



    It's pretty simple: If you're rich, you can find a way to avoid paying taxes. And if anyone complains, they're a "socialist" who shouldn't be allowed to vote. That's the GOP's ongoing plan for America.
    So, what was your tax bill last year?

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