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Old 04-16-2010, 09:17 PM
 
Location: Sierra Vista, AZ
15,973 posts, read 15,382,666 times
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Why isn't the TeaParty after Exxon et al. We could all pay less if they pay their share
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Old 04-16-2010, 09:22 PM
 
Location: Hoboken
19,891 posts, read 11,660,715 times
Reputation: 3121
What did MSNBC have to say about this?
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Old 04-16-2010, 11:03 PM
 
Location: Keonsha, Wisconsin
2,480 posts, read 2,193,600 times
Reputation: 566
Quote:
Originally Posted by DC at the Ridge View Post
7000 tax returns! Wow! And ends up with 0 tax liability.

GE: 7,000 tax returns, $0 U.S. tax bill - Apr. 16, 2010
Want to punish GE for all of their misdeeds? Don't buy GE products:
CleanUpGE.org | GE Misdeeds
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Old 04-16-2010, 11:37 PM
 
4,608 posts, read 5,826,010 times
Reputation: 1232
Quote:
Originally Posted by DC at the Ridge View Post
7000 tax returns! Wow! And ends up with 0 tax liability.

GE: 7,000 tax returns, $0 U.S. tax bill - Apr. 16, 2010
Hmmmm, How convenient....
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Old 04-16-2010, 11:52 PM
 
Location: Midwest
23,262 posts, read 11,839,223 times
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Quote:
Originally Posted by thecoalman View Post
Reference?

I guess we could surmise it's Obama's Fault? LOL


YouTube - GOP Fight To Keep Tax Loopholes For Big Business


YouTube - Shocking Truth About US Corporate Tax Rates
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Old 04-16-2010, 11:59 PM
 
Location: Great State of Texas
84,473 posts, read 48,678,482 times
Reputation: 26147
Over a year old..but very telling..GE doesn't care WHO is President or WHAT party they belong to.
They spend millions on lobbying each year..all to benefit themselves.

Immelt being on Obama's Recovery Board doesn't help..definitely a conflict of interest since GE got bailout money.

Obama‚€™s hidden bailout of General Electric | Washington Examiner (http://www.washingtonexaminer.com/politics/Obamas-hidden-bailout-of-General-Electric_03_04-40686707.html - broken link)

"In short, GE plans to get rich by being one of the government’s closest partners — which it has always been, thanks to its unmatched lobbying efforts."
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Old 04-17-2010, 01:28 AM
 
27,711 posts, read 24,767,057 times
Reputation: 10514
Quote:
Originally Posted by Boompa View Post
Why isn't the TeaParty after Exxon et al. We could all pay less if they pay their share
Your gas would go up. Companies don't pay taxes, they are just tax collectors.
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Old 04-17-2010, 07:14 AM
 
12,576 posts, read 10,670,803 times
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When Obama is booted from office in 2012 you can be sure he'll end up on GE's board of directors.
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Old 04-17-2010, 02:23 PM
 
Location: Jewel Lake (Sagle) Idaho
16,696 posts, read 9,280,962 times
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From the Forbes article:

Quote:
But it's the tax benefit of overseas operations that is the biggest reason why multinationals end up with lower tax rates than the rest of us. It only makes sense that multinationals "put costs in high-tax countries and profits in low-tax countries," says Scott Hodge, president of the Tax Foundation (http://topics.forbes.com/Tax%20Foundation - broken link). Those low-tax countries are almost anywhere but the U.S. "When you add in state taxes, the U.S. has the highest tax burden among industrialized countries," says Hodge. In contrast, China's rate is just 25%; Ireland's is 12.5%.
Corporations are getting smarter, not just about doing more business in low-tax countries, but in moving their more valuable assets there as well. That means setting up overseas subsidiaries, then transferring to them ownership of long-lived, often intangible but highly profitable assets, like patents and software.
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Old 04-17-2010, 02:31 PM
 
18,163 posts, read 9,197,979 times
Reputation: 4330
Quote:
Originally Posted by DC at the Ridge View Post
7000 tax returns! Wow! And ends up with 0 tax liability.

GE: 7,000 tax returns, $0 U.S. tax bill - Apr. 16, 2010
Now maybe people will see why its profitable for giant corporations to get in bed with the federal government and their Global Warming agenda, and it helps to have their CEO as an advisor to the president.

Quote:
Thanks to its deductions and adjustments, GE reported an actual U.S. federal income tax rate of negative 10.5%. It got to add a "tax benefit" of $1.1 billion back into its reported earnings.

"This is the first time in at least decades that GE has reported negative U.S. pretax income and it reflects the worst economy since the Great Depression," Anne Eisele, GE's director of financial communications, said via e-mail.
...and here I thought it was under republican presidents that the big corporations got rich.
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