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Last post 13 years ago by snowwolf777. 27 replies replies.
GE makes 14 Billion in profit - pays no taxes!!
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Kawak Offline
#1 Posted: Fri, Mar 25 2011, 7:24 PM EST
Joined: 11-26-2007
Posts: 4,025
Guess who's one of Obama's biggest supporters and traveled to South America with him??

Tax the rich!!!! We'll except for..................

If Barry dissappeared tomorrow would ya really miss him?
HockeyDad Offline
#2 Posted: Fri, Mar 25 2011, 8:03 PM EST
Joined: 09-20-2000
Posts: 46,134
:-"

This isn't so hard to explain. GE Capital lost billions in the US and made billions overseas. The whole trick is where the profit is made and international tax law. Keep in mind that although GE has its HQ in the USA, more than half its employees are elsewhere in the world and most of its profits are not from the USA.

Welcome to globalization....bitches.
chiefburg Offline
#3 Posted: Fri, Mar 25 2011, 8:09 PM EST
Joined: 01-31-2005
Posts: 7,384
HockeyDad wrote:
Whistle

This isn't so hard to explain. GE Capital lost billions in the US and made billions overseas. The whole trick is where the profit is made and international tax law. Keep in mind that although GE has its HQ in the USA, more than half its employees are elsewhere in the world and most of its profits are not from the USA.

Welcome to globalization....bitches.

Biotch OUTRAGE!!!
Kawak Offline
#4 Posted: Fri, Mar 25 2011, 10:43 PM EST
Joined: 11-26-2007
Posts: 4,025
HockeyDad wrote:
:-"

This isn't so hard to explain. GE Capital lost billions in the US and made billions overseas. The whole trick is where the profit is made and international tax law. Keep in mind that although GE has its HQ in the USA, more than half its employees are elsewhere in the world and most of its profits are not from the USA.

Welcome to globalization....bitches.


Ohh now I get it. So that money doesn't really count then? It's just pretend money's. They can't really spend that.

http://www.nytimes.com/2011/03/25/business/economy/25tax.html?_r=1
donutboy2000 Offline
#5 Posted: Fri, Mar 25 2011, 11:10 PM EST
Joined: 11-20-2001
Posts: 25,000
.


REDUCE THE CORPORATE TAX RATE TO ZERO % !


Who do you think pays GE's taxes? Their taxes are passed on to you when you purchase one of their products.
HockeyDad Offline
#6 Posted: Sat, Mar 26 2011, 5:52 AM EST
Joined: 09-20-2000
Posts: 46,134
Kawak wrote:
Ohh now I get it. So that money doesn't really count then? It's just pretend money's. They can't really spend that.




No, no. It is real money. It can be freely spent in other countries. Tax was paid on it by the subsidiary in that country and it is sitting in banks there.

The misleading part of the whole story is they make you think the money is tax-free. Global corporations do business by setting up companies all of the world. Each of these companies pay their taxes. A company the size of GE may have easily paid taxes in over 100 countries.

What does not happen is GE's subsidiaries pay tax on the money they in their respective country and then GE (the parent corporation) pays tax on the sum of the total profit in the USA because the HQ is in the USA.
Lumpa Offline
#7 Posted: Sat, Mar 26 2011, 2:22 PM EST
Joined: 03-04-2009
Posts: 377
Only little people ever need to worry about double taxation.
cacman Offline
#8 Posted: Sat, Mar 26 2011, 5:28 PM EST
Joined: 07-03-2010
Posts: 12,216
stock is up :)
fiddler898 Offline
#9 Posted: Sat, Mar 26 2011, 7:50 PM EST
Joined: 06-15-2009
Posts: 3,782
Hey, so long as we can smoke cigars & vote tea party, we don't care which multinational makes what...
fishinguitarman Offline
#10 Posted: Sat, Mar 26 2011, 7:55 PM EST
Joined: 07-29-2006
Posts: 69,152
donutboy2000 wrote:
.


REDUCE THE CORPORATE TAX RATE TO ZERO % !


Who do you think pays GE's taxes? Their taxes are passed on to you when you purchase one of their products.





OK...I'm sick and tired of your BS! NO MORE!


YOU TELL ME THIS INSTANT HOW YOU GET BIG LETTERS WITH COLOR CAUSE
I CAN'T FIGURE IT OUT!
Homebrew Offline
#11 Posted: Sat, Mar 26 2011, 10:00 PM EST
Joined: 02-11-2003
Posts: 11,885
fishinguitarman wrote:
OK...I'm sick and tired of your BS! NO MORE!


YOU TELL ME THIS INSTANT HOW YOU GET BIG LETTERS WITH COLOR CAUSE
I CAN'T FIGURE IT OUT!

Pretty easilyJust Change font color and size


Dave (A.K.A. Homebrew)
gimbel Offline
#12 Posted: Sat, Mar 26 2011, 10:39 PM EST
Joined: 02-04-2010
Posts: 11,148
fishinguitarman wrote:
OK...I'm sick and tired of your BS! NO MORE!


YOU TELL ME THIS INSTANT HOW YOU GET BIG LETTERS WITH COLOR CAUSE
I CAN'T FIGURE IT OUT!


Highlight what you want to change the size of, and leave it selected when you choose the color.
rfenst Offline
#13 Posted: Sun, Mar 27 2011, 1:39 AM EST
Joined: 06-23-2007
Posts: 39,330
Why should it pay taxes on "earnings" if they reinvest the "profit" or deserve a credit against U.S. taxes for foreign taxes paid? All we can expect is for GE to comply with current tax law. Don't you finagle every tax deduction you can get?
frankj1 Offline
#14 Posted: Sun, Mar 27 2011, 9:36 AM EST
Joined: 02-08-2007
Posts: 44,221
gotta be plenty of $$$ incentives for involvement in "green" development too...maybe wind turbines etc?
ZRX1200 Online
#15 Posted: Sun, Mar 27 2011, 10:28 AM EST
Joined: 07-08-2007
Posts: 60,614
^ yes and it pays handsomely to have your CEO running the energy policy out of the white house.
Homebrew Offline
#16 Posted: Sun, Mar 27 2011, 10:42 AM EST
Joined: 02-11-2003
Posts: 11,885
ZRX1200 wrote:
^ yes and it pays handsomely to have your CEO running the energy policy out of the white house.



Yep,
Much like Kenneth Lay ran energy policy out of the Bush White House.


I say don't vote for anyone with a D or a R after their name.

Dave (A.K.A. Homebrew)
ARN Offline
#17 Posted: Sun, Mar 27 2011, 11:16 AM EST
Joined: 10-14-2005
Posts: 11,393
Hey Raymond.....Ain't they just a bunch of show off's.........
MACS Offline
#18 Posted: Sun, Mar 27 2011, 7:02 PM EST
Joined: 02-26-2004
Posts: 79,789
FGM... are you a reeetaaahd, or what?
tonyt722 Offline
#19 Posted: Sun, Mar 27 2011, 7:11 PM EST
Joined: 06-20-2007
Posts: 23,649
Poor fog
rfenst Offline
#20 Posted: Sun, Mar 27 2011, 8:12 PM EST
Joined: 06-23-2007
Posts: 39,330
Anyone see 60 Minutes tonight? It concerned this very issue!
wheelrite Offline
#21 Posted: Sun, Mar 27 2011, 8:22 PM EST
Joined: 11-01-2006
Posts: 50,119
rfenst wrote:
Anyone see 60 Minutes tonight? It concerned this very issue!



I only watch Fox and Porn...
DrafterX Offline
#22 Posted: Mon, Mar 28 2011, 9:25 AM EST
Joined: 10-18-2005
Posts: 98,552
How many people do they employ..?? How much do think they all paid..?? Mellow
jojoc Offline
#23 Posted: Mon, Mar 28 2011, 1:35 PM EST
Joined: 03-05-2007
Posts: 6,272
Kawak wrote:
Ohh now I get it. So that money doesn't really count then? It's just pretend money's. They can't really spend that.

http://www.nytimes.com/2011/03/25/business/economy/25tax.html?_r=1


I did not read the article,but as HD stated, they did pay tax, just at a much lower rate in another country. Why? Because they can and it is good business to keep taxes low. What happens to the profits? Well it gets invested in other countries because our tax laws impose a tax on the profits if they are spent in the US.

Our tax policy is FORCING large companies to move more and more operations overseas and puts a 35% tax on any profits from foreign operations that is spent in the US.

Up until the crash, Ireland had one of the hottest economies in the world because they decided to take advantage of our high corporate tax rates. US Corp. Tax rate 35%. Ireland 12.5%. Hundreds of international companies have opened/moved offices to Ireland to take advantage of the lower tax rates.

If we want companies to keep operations in the US, we need to drastically reduce our corp tax rate.
Kawak Offline
#24 Posted: Mon, Mar 28 2011, 6:50 PM EST
Joined: 11-26-2007
Posts: 4,025
jojoc wrote:
If we want companies to keep operations in the US, we need to drastically reduce our corp tax rate.


If we do that how will it help support the Liberal Democratic agenda?
snowwolf777 Offline
#25 Posted: Mon, Mar 28 2011, 7:22 PM EST
Joined: 06-03-2000
Posts: 4,082
I know if I had to answer to stockholders I'd make sure the corporation paid as much tax as possible each year. Nothing makes investors smile like basement-dwelling dividends.

We have no need for 35% corporate taxes. We have a need to quit pissing it all away on earmarks and "shovel ready" BS.

Beer
jojoc Offline
#26 Posted: Mon, Mar 28 2011, 7:36 PM EST
Joined: 03-05-2007
Posts: 6,272
There is a high likelihood that in the long run, we would not loose a single dollar of tax revenue if we dropped the tax rate to 20%. In the short term, yes, but companies would be less likely to move revenue sources off shore, thus leaving more revenue on the table for taxation.
snowwolf777 Offline
#27 Posted: Tue, Mar 29 2011, 7:20 AM EST
Joined: 06-03-2000
Posts: 4,082
BTW Kawak, the fact GE's bigshot is on Obama's economic "team" with direct access to him is not lost on me.

Probably has nothing to do with the fact his so-called "news" division was in the tank for El Presidente Bobblehead from Day 1.

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