GE, World's Largest Corporation, Paid Zero Dollars in U.S. Taxes Last Year

GE, World's Largest Corporation, Paid Zero Dollars in U.S. Taxes Last Year

www.alternet.org

General Electric, the nation’s largest corporation, had a very good year in 2010.

The company reported worldwide profits of $14.2 billion, and said $5.1 billion of the total came from its operations in the United States.

Its American tax bill? None. In fact, G.E. claimed a tax benefit of $3.2 billion.

(visit the link for the full news article)

Must be nice. Most people have to choose between paying rent and buying food these days - and get hit with a tax bill anyway.

As it happens, GE is a major supplier in the nuclear reactor industry - and big in Japan.

GE-Built Nuclear Reactor in Japan: Who's Responsible Now?

GE supplied reactor No. 1 at the Fukushima Daiichi nuclear power plant 150 miles from Tokyo, where concerns have been mounting after an explosion at the reactor following Friday's quake and tsunami.

Three days later, there was a further explosion in the building housing the plant's reactor No. 3, supplied by Toshiba.

…GE and its joint-venture partner Hitachi (HIT) have been scrambling to gain a foothold in the race to build nuclear power plants...

Fact is, GE is NOT an "American company" - it's just the biggest corporation in the USA and one of the biggest global multinational corporations.

GE is famous for tax dodging.

The company has been cutting the percentage of its American profits paid to the Internal Revenue Service for years, resulting in a far lower rate than at most multinational companies.

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. G.E.’s giant tax department, led by a bow-tied former Treasury official named John Samuels, is often referred to as the world’s best tax law firm....The team includes former officials not just from the Treasury, but also from the I.R.S. and virtually all the tax-writing committees in Congress.

GE's tax breaks come out of your pockets.

And US taxpayers' money is being used to make our world radioactive.




www.alternet.org
(visit the link for the full news article)

So this is why I am a slave to the system.

Originally posted by gatewaywithin
So this is why I am a slave to the system.

No you are a slave to the system because you believe yourself to be...

It's all in your head!

reply to post by HunkaHunka

No you are a slave to the system because you believe yourself to be... It's all in your head!

Apparently it's in my wallet as well, I pay about $10,000 USD a year in income tax

Obama just apointed a top GE executive type dude to a top position in government...
you might want to read the article to see what that position is called
what ever the position is,
it is the one that gives GE the most pull
www.youtube.com...

SCHENECTADY, N.Y. -- President Barack Obama, aiming to reinforce the message that the second half of his first term will be all about jobs, named Jeffrey Immelt, president and chief executive officer of Fairfield, Conn.-based General Electric, on Friday to head a new White House Council on Jobs and Competitiveness.

"We think GE has something to teach businesses all across America," Obama said.

Obama traveled to upstate New York to highlight GEs success with innovation, and the jobs it has created as it builds massive generators and steam turbines for countries like India and Saudi Arabia.

www.stamfordadvocate.com...

Originally posted by gatewaywithin
reply to post by HunkaHunka

 

No you are a slave to the system because you believe yourself to be... It's all in your head!

Apparently it's in my wallet as well, I pay about $10,000 USD a year in income tax

I pay about $70k in taxes every year myself....

Odd how you pay much less than I do, yet I feel free and you feel as a slave to the system....

I suggest you read up on the law of AMRA

reply to post by gatewaywithin


reply to post by HunkaHunka


HA! Both of you pay more in taxes in a year than I bring home. For some reason that makes me chuckle.

I paid about 400 and change in Federal taxes this year and I can't recall how much in state, but I know I don't get a refund from state tax this year.

Ah it's good to be broke sometimes.

reply to post by HunkaHunka


Thank you all knowing master, but the jist of the post is, I don't generate 14.2 billion a year and owe $0 like GE

good thing america is cutting all those social programs. how can we possibly afford to cut, or eliminate, taxes for the wealthy and corporate. this is what our elected leaders want, and are paid for. they do not go to washington to help the masses. their actions and the laws that are passed, validate that conclusion.

Originally posted by gatewaywithin
reply to post by HunkaHunka

 

Thank you all knowing master, but the jist of the post is, I don't generate 14.2 billion a year and owe $0 like GE

You said you were a slave to the system.... I said it was all in your head, you showed the taxes you paid as reason for feeling the way you do....

I pay quite a bit in taxes, but thats because i choose to live in a wealthy area of an affluent country. I get a lot in return for my taxes and don't mind paying them...

It's incredibly easy to generate revenue, so I just don't care about that...

The point of the post is that no, you are not a slave to anything... You are complicit in any relationship you have...

When will pussified Americans wake up....

trea·son
 
–noun

1.
the offense of acting to overthrow one's government or to harm or kill its sovereign.

2.
a violation of allegiance to one's sovereign or to one's state.

3.
the betrayal of a trust or confidence; breach of faith; treachery.

Number 3 sounds about right....

WAKE UP PEOPLE AND TURN OFF AMERICAN IDOL !!!!!!

Originally posted by whatukno
reply to post by gatewaywithin

 

reply to post by HunkaHunka

 

HA! Both of you pay more in taxes in a year than I bring home.

For some reason that makes me chuckle.

I paid about 400 and change in Federal taxes this year and I can't recall how much in state, but I know I don't get a refund from state tax this year.

Ah it's good to be broke sometimes.

It truly is... There is a great book called "unto thee I grant" which describes the benefits of not having the financial obligations of the wealthy... And it's true... There is a great happiness in what you describe...

They way I live is all according to my personal narrative of living. I originally decided to become wealthy as a means of gaining authority within my family and small town. Evidently in many places that's the only validation for a philosophy... As silly as this is, it is what I did...

reply to post by Zaanny


See, I think you got it wrong.

According to Article III Section 3 of the United States Constitution Treason is defined:

Treason against the United States, shall consist only in levying War against them, or in adhering to their Enemies, giving them Aid and Comfort. No Person shall be convicted of Treason unless on the Testimony of two Witnesses to the same overt Act, or on Confession in open Court.

The Congress shall have Power to declare the Punishment of Treason, but no Attainder of Treason shall work Corruption of Blood, or Forfeiture except during the Life of the Person attainted.

www.archives.gov...

I have no idea what treason you are talking about.

Isn't this a great country? And how to pay back the CEO for his good fortune? Hire him as an economic adviser to the President!!!


What a joke.

reply to post by HunkaHunka


I'm sorry for being cynical.I didn't know that wasn't allowed here.

I don't mind paying my fair share of taxes, in fact I'm all for it.I just think it should be fair.

reply to post by gatewaywithin


Oh it's allowed, as much as checking that cynicism with a dose of reality. :-)

GE is a company that has had close ties to the government for a very long time. It should be of no surprise corporations that have such close ties, pay very little into the government. They will argue that they provide jobs and thats why they need these tax cuts. Yet that money probably only goes to a select few hands.

treason
you might just find GE adhering to the enemy
obama like bush before him has the job of destroying america
ALL ENEMAS FOREIGN AND DUMBESTIC

remember rummy selling nuky stuff to Lil Kim and what ever to Saddam etc...