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

Originally posted by potatorampage
reply to post by HunkaHunka

 

This is the stupidest logic I have ever seen. I used to pay about 8k a year in taxes when I had a job. The average American loses 20% of their total pay in taxes. You pay 70k in taxes and feel free because you bring home the other 80%, 350k a year is what you have to make to pay 70k. You bring home more money every year than a middle class home costs the average American, that's why you feel free.

I've always been poor and never had the connections to get my ideas heard or move up in life beyond my station

I was born poor... In a small town with no opportunity.

I pay 30% in taxes btw....

I feel free because I learned how to get rid of that feeling that says this is difficult.

The only real difficult thing was to believe in myself...truly believe that I can have and do anything I set my mind to, no matter how crazy.

I just had to stop believing the lies that success and slim chance is all that can bring great success... Once you allow yourself to believe that fortune is truly right under your nose... Then you are just giddy trying to look for what it is... It's a very different feeling than believing the lie of what you see everyday if you are poor.

Honestly... If you believe the what every non-rich person tells you about how hard it is to be rich, well you will end up with the same thing they got.

Originally posted by Gregarious

Originally posted by potatorampage
Also as a final comment, I'm not a socialist per say, but

Then you go on to tell us that you have socialist and Marxist ideas that make you a socialist. You are correct, yes socialism is bad. It is idiotic, as history has proven it does not work. Everyone deserves to be equally poor? If you want equality, go to Cuba. America is about the right to make your own way.

Or you could go to Sweden, Norway, and Denmark. They are so heavily unionized, even their white collar jobs are unionized. Their countries must be so horribly bad off because socialism huh? Yet every statistic says that they are far better off than we are in this country. Haiti is a capitalist country, yet you wouldn't praise them as an ideal country to promote capitalism would you? If history has taught us anything its that capitalism, socialism, and communism can all fail, because corruption comes into control in every systems. All I am saying is that you can give examples of bad countries in both systems. There is no ideal system.

reply to post by soficrow


Those tax lawyers are worth their weight in gold.
Maybe we should have a flat tax just for all U.S. Corporations. -- 20% --
Then GE would have cut the IRS a check for $ 1 Billion.

I will bring a post from another similar thread here:

I heard this and just can't understand it. I started trying to find some reasoning and I wonder is it because they are so big and create so many jobs(?) that they should be allowed to dodge taxes? I ask because obviously it is approved and I want to know why. With their retro stance on this, it sounds kind of like the old "privatize profits and socialize losses?"

24,000 page tax return that "no one" can really figure," so they let it go? 975 employees to create these 24,000 pages? I think they should not be able to file deductions unless they pay their taxes, no?
Hell the Health Care plan everyone complained about being too complex was only 1500 pages.

Relative info:

A little more perspective on corps and taxes: Microsoft and Apple paid 25% each, but Google only paid 2%.

1) Exxon Mobil – made $19 billion in profits in 2009. Exxon not only paid no federal income taxes, it actually received a $156 million rebate from the IRS, according to its SEC filings.
2) Bank of America — received a $1.9 billion tax refund from the IRS last year, although it made $4.4 billion in profits and received a bailout from the Federal Reserve and the Treasury Department of nearly $1 trillion.
3) General Electric — Over the past five years, GE made $26 billion in profits in the United States but still received a $4.1 billion refund from the IRS.
4) Chevron — received a $19 million refund from the IRS last year after it made $10 billion in profits in 2009.
5) Boeing — received a $30 billion contract from the Pentagon to build 179 airborne tankers, got a $124 million refund from the IRS last year.
6) Valero Energy — the 25th largest company in America with $68 billion in sales last year received a $157 million tax refund check from the IRS and, over the past three years, has received a $134 million tax break from the oil and gas manufacturing tax deduction.
7) Goldman Sachs — in 2008 only paid 1.1 percent of its income in taxes even though it earned a profit of $2.3 billion and received an almost $800 billion from the Federal Reserve and U.S. Treasury Department.
8) Citigroup — last year made more than $4 billion in profits but paid no federal income taxes. It received a $2.5 trillion bailout from the Federal Reserve and U.S. Treasury.
9) ConocoPhillips — the fifth largest oil company in the United States, made $16 billion in profits from 2007 through 2009, but received $451 million in tax breaks through the oil and gas manufacturing deduction.
10) Carnival Cruise Lines — Over the past five years, it made more than $11 billion in profits, but its federal income tax rate during those years was just 1.1 percent.

www.getlisty.com...

Peace,
spec

Originally posted by HunkaHunka

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!

Slavery can be defined as working without being paid. If I work 40 hours and receive pay for 30 hours due to federal taxation, have I worked without pay? You seem to define slavery as getting paid for less than half of your labor. And that is wrong in my book. I'd say if you pay 25% to the government you are 25% slave and 75% free. Taxation is only fair when it taken with the permission of the owner, since taking one's property without permission is stealing. If you can go to jail for taking without asking then uncle sam should be held equally accountable. Otherwise you have a two-class system: the ruling class who do not have to follow the rules and the slave class who do have to follow the rules. Taking without asking is one example in hundreds where the government refuses to follow the rules they set for everybody but them.

reply to post by soficrow


S&F!

the more things change the more they stay the same?:



still on p1 may say more later


jesus!!!!! embedding was disabled by some busibody in less than 10 friggin minutes!!!!!
heres the direct link.
www.youtube.com...

maybe GE's tentacles?



a frickking mazing

Your video, Conspiracy Rock , may include content that is owned or administered by these entities: Entity: NBC Universal Content Type: Audiovisual content

definitely some serious tentacles. to bad i downloaded it with keeptube

reply to post by gatewaywithin


I've never paid a cent [with the exception of sales tax, only implemented a couple of years ago in PR]

it pays to be invisible

reply to post by Danbones


Can you re-write that in a language that others can understand?

Otherwise, your post sounds like a female rapper got nukes.

reply to post by soficrow


reply to post by Gorman91





Energy From Thorium: A Nuclear Waste Burning Liquid Salt Thorium Reactor @ Google Tech Talks


board.freedomainradio.com...

Because LFTRs operate at atmospheric pressure, they are less likely than conventional pressurized reactors to spew radioactive elements if an accident occurs. In addition, an increase in operating temperature slows down the nuclear chain reaction, inherently stabilizing the reactor. And LFTRs are designed with a salt plug at the bottom that melts if reactor temperatures somehow do rise too high, draining reactor fluid into a containment vessel where it essentially freezes. It is estimated that 83 percent of LFTR waste products are safe within 10 years, while the remainder needs to be stored for 300 years. Another advantage is that LFTRs can use plutonium and nuclear waste as fuel, transmuting them into much less radioactive and harmful elements, thus eliminating the need for waste storage lasting up to 10,000 years. No commercial thorium reactors currently exist, although China announced a project earlier this year that aims to develop such reactors. The main problem with energy supply systems is that for the last 100 years, governments have insisted on meddling with them, using subsidies, setting rates, and picking technologies. Consequently, entrepreneurs, consumers, and especially policymakers have no idea which power supply technologies actually provide the best balance between cost-effectiveness and safety. In any case, let’s hope that the current nuclear disaster will not substantially add to the terrible woes the Japanese must bear as a result of nature’s fickle cruelty.

reason.com...

At this point in history, if all government liability loopholes, tax breaks, and subsidies were removed in the energy industry, SOLAR would be the most profitable energy source.

Nuclear, coal and oil plants cost more to build and insure than a couple different varieties of the latest solar plants, and require the purchase of fuel that keeps rising in price. Solar plants cost less to build (at least some of them), and have no future fuel costs, and cost less to insure. Without insurance breaks, nuclear is less profitable that solar. Without subsidies, coal and oil are less profitable than solar. Without government, companies would follow the money to solar.

reply to post by DerepentLEstranger



Thanks DLE.

...I know that public education is used to brainwash the masses - all 'educational' systems do so in some way, to some degree. But I'm not sure I agree it's a good idea to throw the baby out with the bath water.

Have you seen my video on this topic?

Hey, but Conservatives want to lower the corporate tax rate.

So what's lower than 0?

Should we lower it to -0?

Yea, tax cuts = jobs good one!

reply to post by soficrow


Dudette!!! Awesome vids!!!

is that you with the mustache you're pretty versatile
kinda embarrassing when i consider my own vids which are usually clips made with MovieMaker.

i see that the ConspiracyRock video [not mine] is now embedded, funny that

Originally posted by whatukno
Hey, but Conservatives want to lower the corporate tax rate.

So what's lower than 0?

Should we lower it to -0?

Yea, tax cuts = jobs

good one!

It's not just the tax cuts - it's the mega-billion rebate$!

reply to post by DerepentLEstranger


Thanks. ...make vids, post 'em, keep working! Please!

(which Conspiracy Rock vid?)

reply to post by soficrow


the first one i posted on your thread www.abovetopsecret.com...

it's from the 70's i uploaded it to my channel so as to post it here GE figures prominently in it, according to the vid NBC is part of the GE octopus and in less than 10-15 minutes NBC contacted YT claimed ownership and blocked embedding. spooky huh?

i edited that post twice and provided a direct link. here it is again for those who weren't able to see it previously

www.youtube.com...

don't know if it was covered as I don't have time
to read the whole thread.

UPDATE:

there is a new twist to this story.

After $14B in profits this yr, GE is asking
15,000 of it's employees to take a pay cut.
The amount of the pay cut is equal to
their medical healthcare plan.

new link

thinkprogress.org...

It's Wisconsin ALL over again !!!

Originally posted by boondock-saint
UPDATE:

there is a new twist to this story.

After $14B in profits this yr, GE is asking
15,000 of it's employees to take a pay cut.
The amount of the pay cut is equal to
their medical healthcare plan.

new link thinkprogress.org...

From Tax rebates to employee pay cuts.

...I guess $14Billion is not what it used to be.

S&


reply to post by DerepentLEstranger


Thanks for reposting the link - you may not have noticed, but NBC called copyright and blocked it.

S&

UPDATE


How 12 Multinational Corporations Avoid Paying Taxes

A new report shows how some of the world's biggest companies pay nothing to the IRS through lobbying and loopholes.

...it’s not just GE that’s bilking the system and paying zero dollars in taxes.

A new report out today illustrates that at least 11 other multinational, billion-dollar corporations managed to get a free pass from the IRS – and not only that, but while average Americans scraped their piggy banks to pay hefty taxes on paltry paychecks, many of these companies actually got a refund.

Feel like a sucker yet?

reply to post by soficrow


An insanely angry sucker, yes.
I honestly do not see how this is allowed to go on. When the U.S. government is in such terrible shape financially, that these companies would actively fight to not pay taxes after, as in the case of Bank of America MADE money last year strikes me as vile and horrifying.

I am apoplectic

Obs out

I read because of pressure from people like us GE actually paid back to the federal reserve 3.2 Billion in taxes. Let's hope all these other companies follow their lead. I'm actually proud of GE for doing the right thing when they didn't have too. Blue Cross/Blue shield is one of the most profitable companies in the world but remain a non profit. Let's see If we can get some heat on them and make a difference.

They pay ZERO taxes But for me and my family(1 child) 600-750 per month for health coverage. That's the largest scam in the history of the USA.