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Last post 12 years ago by OldSchool. 40 replies replies.
BOO HOO HOO, the President is sewiously bothered by
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bloody spaniard Offline
#1 Posted: Tue, Jul 12 2011, 6:07 PM EST
Joined: 03-14-2003
Posts: 43,802
... the idea that a large US company could pay NO taxes.

The top tax bracket for U.S. corporations stands at 35 percent, one of the highest rates in the world. So how is it possible that a giant of American business, General Electric, paid nothing in federal taxes last year, even as it made billions in profit? And should the CEO of GE, Jeffrey Immelt, be advising the president on business? Immelt serves as the chairman of Obama's Council on Jobs and Competitiveness.

For those unaccustomed to the loopholes and shelters of the corporate tax code, GE's success at avoiding taxes is nothing short of extraordinary. The company, led by Immelt, earned $14.2 billion in profits in 2010, but it paid not a penny in taxes because the bulk of those profits, some $9 billion, were offshore. In fact, GE got a $3.2 billion tax benefit.

When President Obama announced his decision to appoint Immelt to the unpaid advisory role on job creation in January, some critics wondered whether the move was appropriate. Under his leadership, GE laid off 21,000 American workers and closed 20 factories between 2007 and 2009. More than half of GE's workforce is now outside the United States. Confused Huh Sneaky Woot
FuzzNJ Offline
#2 Posted: Tue, Jul 12 2011, 6:14 PM EST
Joined: 06-28-2006
Posts: 13,000
bloody spaniard wrote:
... the idea that a large US company could pay NO taxes.

The top tax bracket for U.S. corporations stands at 35 percent, one of the highest rates in the world. So how is it possible that a giant of American business, General Electric, paid nothing in federal taxes last year, even as it made billions in profit? And should the CEO of GE, Jeffrey Immelt, be advising the president on business? Immelt serves as the chairman of Obama's Council on Jobs and Competitiveness.

For those unaccustomed to the loopholes and shelters of the corporate tax code, GE's success at avoiding taxes is nothing short of extraordinary. The company, led by Immelt, earned $14.2 billion in profits in 2010, but it paid not a penny in taxes because the bulk of those profits, some $9 billion, were offshore. In fact, GE got a $3.2 billion tax benefit.

When President Obama announced his decision to appoint Immelt to the unpaid advisory role on job creation in January, some critics wondered whether the move was appropriate. Under his leadership, GE laid off 21,000 American workers and closed 20 factories between 2007 and 2009. More than half of GE's workforce is now outside the United States. Confused Huh Sneaky Woot


And you are not I gather?
wheelrite Offline
#3 Posted: Tue, Jul 12 2011, 6:18 PM EST
Joined: 11-01-2006
Posts: 50,119
Immelt is a Lefty so he's exempt...
bloody spaniard Offline
#4 Posted: Tue, Jul 12 2011, 6:22 PM EST
Joined: 03-14-2003
Posts: 43,802
Of course I am, Fuzz. The defiant hypocrisy of both men is awe- inspiring.
The problem lies in the fact that the GE's of the world are not punished for outsourcing jobs and not taxed on the profits made abroad. Give them "incentives" for hiring and expanding HERE. Otherwise, face severe consequences.
ram27bat
FuzzNJ Offline
#5 Posted: Tue, Jul 12 2011, 6:36 PM EST
Joined: 06-28-2006
Posts: 13,000
bloody spaniard wrote:
Of course I am, Fuzz. The defiant hypocrisy of both men is awe- inspiring.
The problem lies in the fact that the GE's of the world are not punished for outsourcing jobs and not taxed on the profits made abroad. Give them "incentives" for hiring and expanding HERE. Otherwise, face severe consequences.
ram27bat


On this we agree 100%. The closing the loophole idea is meant to do that, but the Republicans in the House say that is raising taxes and will not go for it. No one pays the 35%, most about half that, yet people still run around complaining about 35% and the 'highest in the world' nonsense.
wheelrite Offline
#6 Posted: Tue, Jul 12 2011, 6:45 PM EST
Joined: 11-01-2006
Posts: 50,119
bloody spaniard wrote:
Of course I am, Fuzz. The defiant hypocrisy of both men is awe- inspiring.
The problem lies in the fact that the GE's of the world are not punished for outsourcing jobs and not taxed on the profits made abroad. Give them "incentives" for hiring and expanding HERE. Otherwise, face severe consequences.
ram27bat


GE also got MILLIONS in Stimulus $$$$

not to mention the Curly Que light bulb scam...
ZRX1200 Offline
#7 Posted: Tue, Jul 12 2011, 6:49 PM EST
Joined: 07-08-2007
Posts: 60,615
And they run the white house energy and jobs policy......
FuzzNJ Offline
#8 Posted: Tue, Jul 12 2011, 6:51 PM EST
Joined: 06-28-2006
Posts: 13,000
wheelrite wrote:
GE also got MILLIONS in Stimulus $$$$

not to mention the Curly Que light bulb scam...


Ah yes, the right wing curly light bulb conspiracy theory. Can't have their old lightbulbs anymore and don't want new more energy efficient ones and it's a disaster. Oh no! Flouride in the water all over again!
FuzzNJ Offline
#9 Posted: Tue, Jul 12 2011, 6:53 PM EST
Joined: 06-28-2006
Posts: 13,000
ZRX1200 wrote:
And they run the white house energy and jobs policy......


lmao, like the energy company's secret meetings with Cheney? /scary music
snowwolf777 Offline
#10 Posted: Tue, Jul 12 2011, 7:15 PM EST
Joined: 06-03-2000
Posts: 4,082
King Lefty and his henchmen are too busy running down the evil oil companies to concern themselves with GE.

If Bush would have put the CEO of BP on his staff as his energy policy "czar" (I guess we've quietly disposed of that term since it hits a little too close to their agenda), the howling from left would have been legendary.

All I know is we gotta hurry up and make the decision to drive this country deeper into debt because the next 18 months will be fully involved with:

1. Fund raising
2. Building a new class of voters with the Dream Act
3. Fund raising
4. Figuring out how to blame Bush for everything that's happend the past 4 years
5. Fund raising
6. Keeping Michelle away from more Fat Burger photo ops until after the election
7. Fund raising
8. Reminding folks "I got Bin Laden"
9. Fund raising
10. Trying to spin continued job loss, record unemployment and record debt into a quilt of "Hope and Change"


... and did I mention fund raising?

Brick wall





FuzzNJ Offline
#11 Posted: Tue, Jul 12 2011, 7:33 PM EST
Joined: 06-28-2006
Posts: 13,000
snowwolf777 wrote:
King Lefty and his henchmen are too busy running down the evil oil companies to concern themselves with GE.

If Bush would have put the CEO of BP on his staff as his energy policy "czar" (I guess we've quietly disposed of that term since it hits a little too close to their agenda), the howling from left would have been legendary.



It wasn't the CEO of BP, but here are the Oil Company and Automobile people in W's administration, since you apparently forgot.

Cheney, CEO of Halliburton
National Security Adviser: Condoleezza Rice, of Chevron
Secretary of Interior: Gale Norton, lawyer for oil corporations
Secretary of Commerce: Donald Evans, CEO of Tom Brown Inc, large independent energy company; board member of Sharp Drilling, an oil industry contractor; and Non-Executive Chairman of TXU Energy.
Secretary of Energy: Spencer Abraham, lobbyist for automobile industry
White House Chief of Staff: Andrew Card, CEO of the American Automobile Manufacturers Association
Economic Adviser: Lawrence Lindsey, consultant to Enron (energy)



Oh, and btw, W had 36 'czar' position filled by 46 different people in his 8 years.
daveincincy Offline
#12 Posted: Tue, Jul 12 2011, 7:35 PM EST
Joined: 08-11-2006
Posts: 20,033
Quit yer whinin and "eat your peas."
ZRX1200 Offline
#13 Posted: Tue, Jul 12 2011, 7:52 PM EST
Joined: 07-08-2007
Posts: 60,615
Snowwolf......you forgot golf.
HockeyDad Offline
#14 Posted: Tue, Jul 12 2011, 8:26 PM EST
Joined: 09-20-2000
Posts: 46,135
bloody spaniard wrote:
More than half of GE's workforce is now outside the United States. [/b][/size]Confused Huh Sneaky Woot




There is the reality. GE is no longer a USA company by the definition people like to apply when the cheer "go team!". Neither is Caterpillar, Westinghouse, and a ton of other companies. They may still have a HQ here but over half their employees are not in the good ole USA and neither are much of their profits.

The USA as a geopolitical boundary means nothing in the global business world. Revenue and profits are earned all over the world and they are taxed all over the world. Numerous taxation agreements are in place between nations to avoid double taxation and taxation wars. Just like the USA doesn't tax GE's earning in the United Kingdom, the United Kingdom doesn't tax British Petroleum's earnings in the USA and the Netherlands doesn't tax Royal Dutch Shell's earning in the USA.

GE is a nice target when looking for an ox to gore but most don't know what they even do as a business. People think GE manufactures refrigerators. Yes, GE manufactures stuff but that isn't where the money is. GE is an international bank. The stuff they manufacture and sell they also finance. Locomotives, power plant generators, aircraft engines, etc. GE Oil & Gas division is a direct competitor of mine so I don't care if you gore them. Yes, they also are an energy services company.

Speaking of energy, don't worry too much about King Lefty and his henchmen chasing down the big oil companies. It is as much a fraud now as it was under the Bush administration when gas prices spiked. Any time you hear about politicians going after the big oil companies and energy, don't put just one hand on your wallet....put both. Sure, Obama and the lefties might take away a few subsidies. Those subsidized programs will be shutdown or the cost increase will be passed on to the consumers. Government gets more tax revenue and the energy companies make up the lost profit. Your wallet loses. Energy companies are under the Obama Cone of Protection just like they were under the Bush Cone of Protection. Anything to the contrary is just misdirection.

....and we globalists control everything!
ZRX1200 Offline
#15 Posted: Tue, Jul 12 2011, 8:30 PM EST
Joined: 07-08-2007
Posts: 60,615
Impossible.


Fuzzy said Cheaney is gone........
donutboy2000 Offline
#16 Posted: Tue, Jul 12 2011, 8:33 PM EST
Joined: 11-20-2001
Posts: 25,000
Did GE pay off Obama?
DrMaddVibe Offline
#17 Posted: Wed, Jul 13 2011, 5:50 AM EST
Joined: 10-21-2000
Posts: 55,444
It's all right when Lefty does it.

You should ALL be ashamed.

He's got a country to run and we're at war!

Why Lil Brewie said it's treason!
HockeyDad Offline
#18 Posted: Wed, Jul 13 2011, 6:09 AM EST
Joined: 09-20-2000
Posts: 46,135
DrMaddVibe wrote:

He's got a country to run and we're at war!





We can't move on with the fun stuff until the people rise up and beg the government to take on more debt in our names!
DrMaddVibe Offline
#19 Posted: Wed, Jul 13 2011, 6:30 AM EST
Joined: 10-21-2000
Posts: 55,444
Please Santa Obama Christ...deliver us more debt so we can have fun at the expense of future generations and your sacred name is cleansed from kicking the can further down the road than anyone...Hope and Change amen!

Frying pan
HockeyDad Offline
#20 Posted: Wed, Jul 13 2011, 6:42 AM EST
Joined: 09-20-2000
Posts: 46,135
Dear 8 pounds 6 ounces baby Jesus, new born, not even spoken a word yet, please give us more debt.
DrMaddVibe Offline
#21 Posted: Wed, Jul 13 2011, 6:44 AM EST
Joined: 10-21-2000
Posts: 55,444
HockeyDad wrote:
Dear 8 pounds 6 ounces baby Jesus, new born, not even spoken a word yet, please give us more debt.
....

And he’s singing lead vocals for Lynyrd Skynyrd and I’m in the front row hammered drunk.Beer
DrMaddVibe Offline
#22 Posted: Wed, Jul 13 2011, 6:49 AM EST
Joined: 10-21-2000
Posts: 55,444
http://www.youtube.com/watch?v=OXWTdTnhebs
Frying pan horse Frying pan horse Frying pan horse

snowwolf777 Offline
#23 Posted: Wed, Jul 13 2011, 9:22 AM EST
Joined: 06-03-2000
Posts: 4,082
ZRX1200 wrote:
Snowwolf......you forgot golf.


My bad.

Frying pan
snowwolf777 Offline
#24 Posted: Wed, Jul 13 2011, 9:25 AM EST
Joined: 06-03-2000
Posts: 4,082
And basketball.

And special concerts.

And Spring Break trips.

And crazy-fun sleep-overs where they tell Republican ghost stories while roasting marshmallows over the kitchen stove!

Beer
snowwolf777 Offline
#25 Posted: Wed, Jul 13 2011, 9:26 AM EST
Joined: 06-03-2000
Posts: 4,082
DrMaddVibe wrote:
....

And he’s singing lead vocals for Lynyrd Skynyrd and I’m in the front row hammered drunk.Beer



Now I gotta watch that movie again tonight.
HockeyDad Offline
#26 Posted: Wed, Jul 13 2011, 9:28 AM EST
Joined: 09-20-2000
Posts: 46,135
I like to think of Jesus like a dirty old bum. He's comin' up to me, and I'm 'bout to sock him one, cause, you know, he's a dirty old bum, but then I say, "Wait a minute, there's something... I don't know, special about this guy."
DrMaddVibe Offline
#27 Posted: Wed, Jul 13 2011, 10:29 AM EST
Joined: 10-21-2000
Posts: 55,444
HockeyDad wrote:
I like to think of Jesus like a dirty old bum. He's comin' up to me, and I'm 'bout to sock him one, cause, you know, he's a dirty old bum, but then I say, "Wait a minute, there's something... I don't know, special about this guy."



Man, I gotta lay off the peyote.
Frying pan
HockeyDad Offline
#28 Posted: Wed, Jul 13 2011, 10:30 AM EST
Joined: 09-20-2000
Posts: 46,135
Hakuna Matata, bitches!
DrMaddVibe Offline
#29 Posted: Wed, Jul 13 2011, 10:31 AM EST
Joined: 10-21-2000
Posts: 55,444
What does that do? Does that blow your mind? That just happened!
Stinkdyr Offline
#30 Posted: Wed, Jul 13 2011, 10:35 AM EST
Joined: 06-16-2009
Posts: 9,948
HD be right. see his post #14.

Herfing
Papachristou Offline
#31 Posted: Wed, Jul 13 2011, 10:38 AM EST
Joined: 10-20-2010
Posts: 845
snowwolf777 wrote:
King Lefty and his henchmen are too busy running down the evil oil companies to concern themselves with GE.

If Bush would have put the CEO of BP on his staff as his energy policy "czar" (I guess we've quietly disposed of that term since it hits a little too close to their agenda), the howling from left would have been legendary.

All I know is we gotta hurry up and make the decision to drive this country deeper into debt because the next 18 months will be fully involved with:

1. Fund raising
2. Building a new class of voters with the Dream Act
3. Fund raising
4. Figuring out how to blame Bush for everything that's happend the past 4 years
5. Fund raising
6. Keeping Michelle away from more Fat Burger photo ops until after the election
7. Fund raising
8. Reminding folks "I got Bin Laden"
9. Fund raising
10. Trying to spin continued job loss, record unemployment and record debt into a quilt of "Hope and Change"


... and did I mention fund raising?

Brick wall


i think you forgot fundraising...




HockeyDad Offline
#32 Posted: Wed, Jul 13 2011, 10:40 AM EST
Joined: 09-20-2000
Posts: 46,135
Soon you will know what it is like to be defeated by the hands of someone who is truly better than you. As William Blake wrote, "The cut worm forgives the plow."
DrafterX Offline
#33 Posted: Wed, Jul 13 2011, 10:42 AM EST
Joined: 10-18-2005
Posts: 98,555
Baretta said that..?? Huh
DrMaddVibe Offline
#34 Posted: Wed, Jul 13 2011, 10:44 AM EST
Joined: 10-21-2000
Posts: 55,444
I'm all jacked up on Mountain Dew!
Brewha Offline
#35 Posted: Wed, Jul 13 2011, 2:55 PM EST
Joined: 01-25-2010
Posts: 12,182
Help me Jesus! Help me Jewish God! Help me Allah! AAAAAHHH! Help me Tom Cruise! Tom Cruise, use your witchcraft on me to get the fire off me!
snowwolf777 Offline
#36 Posted: Wed, Jul 13 2011, 3:41 PM EST
Joined: 06-03-2000
Posts: 4,082
I am coming for you, Ricky Booby.
DadZilla3 Offline
#37 Posted: Thu, Jul 14 2011, 2:48 PM EST
Joined: 01-17-2009
Posts: 4,633
FuzzNJ wrote:
Oh no! Flouride in the water all over again!


http://www.youtube.com/watch?v=n0eH8qGx0vg
daveincincy Offline
#38 Posted: Thu, Jul 14 2011, 3:56 PM EST
Joined: 08-11-2006
Posts: 20,033
Obama's goin after them Republicans like a spider monkey...
HockeyDad Offline
#39 Posted: Thu, Jul 14 2011, 4:19 PM EST
Joined: 09-20-2000
Posts: 46,135
daveincincy wrote:
Obama's goin after them Republicans like a spider monkey...


I am laughing in advance of FuzzNJ's reply!
OldSchool Offline
#40 Posted: Thu, Jul 14 2011, 5:38 PM EST
Joined: 07-21-2005
Posts: 1,542
bloody spaniard wrote:
... When President Obama announced his decision to appoint Immelt to the unpaid advisory role on job creation in January, some critics wondered whether the move was appropriate. [/b][/size]Confused Huh Sneaky Woot


DOH!
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