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

Originally posted by romanis
reply to post by gatewaywithin

 

you are a slave to the system only if you do nothing to lift yourself up out of social slavery i work a minimum wage job at a recycling plant sorting trash all day i make $498.00 (australian) a week yet i do not see myself as a slave to the system. i see myself as a worker of australia , a father of a 4 month old boy , a provider for a family who depends on me , and a cog in the gears of enviromental sustainability . so my son can have a cleaner world than i have . POINT you are what you make your self

cheers from AUS

At current Exchange rates that is around 511 US Dollars a week. That is around 24,000 a year. There are many people in america making far less than that a year while working their ass off. The minimum wage in america is only 7.25 an hour. Which is about 14,000 USD a year, and thats if they actually get 40 hours a week the whole year. Many employers are only hireing part time jobs. So i can understand why some people feel as though they are slaves. In Australia your government also helps subsidized many things such as health care and education more than they do in the United States yet you Aussies pay less in taxes than we do here. Those are among many of the reasons i will be trying to move to your country in the next few years.

reply to post by HunkaHunka
No, sometimes you can't do anything about your employment situation. Not everyone can have a high paying job. Too many factors can contribute to an individuals living circumstances not being possible to find better employment.

Originally posted by Darkmask
reply to post by HunkaHunka

 

No, sometimes you can't do anything about your employment situation. Not everyone can have a high paying job. Too many factors can contribute to an individuals living circumstances not being possible to find better employment.

Thats why you don't get a job. A job means someone else dictates how much you make and how many hours you have to give in trade.

reply to post by Agarta
So what would you do if you have a family to take care of???

reply to post by soficrow


You are right about GE not being an American company. But when it comes to receiving help from the American government, they are very red and blue ...

reply to post by wlmgsmn
The working poor carry the weight of the world on their backs, my friend. The elite are the ones who set up the system. So of course the system permits them to hoard their wealth. Absolutely disgusting!

Originally posted by Darkmask
reply to post by Agarta

 

So what would you do if you have a family to take care of???

I do this BECAUSE of my family...

I have a family to take care of, and I dont have a "job" per se. Many years ago I started a couple of small businesses... Just ideas at first, and very little baby steps... Eventually i no longer needed, nor believed in, a job working for someone else as a long term solution.

Before I could do any of that though, I had to realize that it was indeed possible, regardless of the doubts I had.

I spend about 4 hours a day now actively managing those businesses from my couch. The rest of the time I spend with my family.

Originally posted by HunkaHunka

Originally posted by Darkmask
reply to post by Agarta

 

So what would you do if you have a family to take care of???

I do this BECAUSE of my family...

I have a family to take care of, and I dont have a "job" per se. Many years ago I started a couple of small businesses... Just ideas at first, and very little baby steps... Eventually i no longer needed, nor believed in, a job working for someone else as a long term solution.

Before I could do any of that though, I had to realize that it was indeed possible, regardless of the doubts I had.

I spend about 4 hours a day now actively managing those businesses from my couch. The rest of the time I spend with my family.

Nah, something don't sound right here. If you only spent 4 hrs a day taking care of business and still pay 70k in taxes that means two things: somebody else is doing the actual work, or your "product" is over-priced.

Hmm, GE comes to mind ...

You could also be a twelve-year-old, typing this on your mom's computer ...

reply to post by HunkaHunka
I do agree with you. You'll never get rich working for someone else.

When there is no capital left over after you pay your mortgage, insurance, car payments, bills, living expenses and petro. It makes it very difficult and next to impossible to start any sort of business, no matter how good the idea. More so, if you have bad credit.

Originally posted by Darkmask
reply to post by HunkaHunka

 

I do agree with you. You'll never get rich working for someone else.

When there is no capital left over after you pay your mortgage, insurance, car payments, bills, living expenses and petro.It makes it very difficult and next to impossible to start any sort of business no matter how good the idea. More so if you have bad credit

Exactly, not everyone has the same exact opportunities.

Originally posted by Darkmask
reply to post by HunkaHunka

 

I do agree with you. You'll never get rich working for someone else.

When there is no capital left over after you pay your mortgage, insurance, car payments, bills, living expenses and petro.It makes it very difficult and next to impossible to start any sort of business no matter how good the idea. More so if you have bad credit

It actually isn't as difficult as you may think. And it's really the doubts which put a stop to it, nothing else.

reply to post by AllIsOne


Your perspective is one that doesn't recognize value.


My clients are large companies with budget to spend. And yes, i use contractors sometimes. I also have employees who keep track of all of the minutiae i used to.

It didn't happen by accident though, i set my mind to finding something I could do which would take very little time and have great value to corporations.

It really is all about recognizing a niche...

Their Form 10-k is publically available on EDGAR at the SEC's website. That form tells investors, shareholders and anybody else interested in knowing about the company's financials and taxes. As a CPA and general subscriber that we live in ultra corrupt times, I still find it hard to believe that they pay no tax. They are a publically traded C-Corp that must have some tax liability.

reply to post by soficrow
I would say the accountants at GE have merited a bonus. A big bonus. They did this following the Progressive National Socialist Democrat molded tax incentives, and by bribing Washington with lobbyists. They are playing the game real good. Don't like it? Vote the treasonous Democrats out. Or buy some tar and feathers! Or, both! But they ARE paying rather high taxes. Thru fines, penalties, user fees, state and local fees, inflation, and a lot of other deceptive practices by the federal govt. They do NOT pay zero taxes. That is a lie. And before the Con in Chief took power, under Bush the total tax take in America was at60%. Who knows what it is now. When it hits 110%, how long till people figure it out and either leave, or quit working?

www.sec.gov...

GE tax form. Page 193.

Net earnings attributable to GE common shareowners

The share holders pay taxes.

Regardless of Hunkahunkas tale (true or not) of great wealth that results in 70K a year in taxes in just four hours a day from the comfort of his couch, that really isnt the point of the thread.

The point is GE who benefits enormously from the United States of America, who has bailed it out on more than one occasion and in that sense is responsible for its very corporate "life" pays nothing to the country in taxes. Which is a disgusting travesty.

Originally posted by AllIsOne

Originally posted by HunkaHunka

Originally posted by Darkmask
reply to post by Agarta

 

So what would you do if you have a family to take care of???

I do this BECAUSE of my family...

I have a family to take care of, and I dont have a "job" per se. Many years ago I started a couple of small businesses... Just ideas at first, and very little baby steps... Eventually i no longer needed, nor believed in, a job working for someone else as a long term solution.

Before I could do any of that though, I had to realize that it was indeed possible, regardless of the doubts I had.

I spend about 4 hours a day now actively managing those businesses from my couch. The rest of the time I spend with my family.

Nah, something don't sound right here. If you only spent 4 hrs a day taking care of business and still pay 70k in taxes that means two things: somebody else is doing the actual work, or your "product" is over-priced.

Hmm, GE comes to mind ...

You could also be a twelve-year-old, typing this on your mom's computer ...

Just because you don't have the formula doesn't make it a black and white situation(either/or)

reply to post by Agarta


If you are willing to do anything, getting rich is not that difficult. Thats the formula.

If there are lines you will not cross, in terms of principles, it becomes a lot more difficult to get rich.

Jesus had a lot to say about this, as have numerous other spiritual teachers and philosophers. Many of those who make great money like to pat themselves on the back as if they are very clever, or exceptionally hard working, and sometimes, that is the case. Often, they are just amoral, and willing to do anything, including to facilitate activities that cause enormous human suffering, to get more for themselves.

Each person has to choose for themselves what their bottom line is, and then should be willing to accept the consequences of that, whatever they may be.

Personally, the corporate form should not be allowed. It was designed to allow human beings to profit with no personal liability for the actions they profit from. It also is programmed to "love money" over all things. In other words, its evil.

It should be abolished, and we would not even have to worry about GE getting away with not paying taxes to the country that saved its butt more than once. Corporations have no loyalty. They cant.

Originally posted by Signals
G.E....

We bring good things to life.

Need a picture with that!

[atsimg]http://files.abovetopsecret.com/images/member/5acbe5592b05.jpg[/atsimg]

reply to post by Illusionsaregrander


Having my own formula that is legal, moral, and profitable outside of any corporate entity, I can honestly say I agree, you are correct. It is about the individual, not big business.