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GE Pays No Taxes (liberal news owners)
Fox news ^ | 3/25/2011 | David Kocieniewski

Posted on 03/25/2011 11:27:42 AM PDT by bilhosty

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.

(Excerpt) Read more at nation.foxnews.com ...


TOPICS: News/Current Events
KEYWORDS: ge; taxes
These are the employers Olberman, Chris mathews, brian Williams etc.

See how conservative the scum of the country club can be when they dont have to pay taxes? They care about there loopholes and tax cuts and beyond that they dont care if they print left propaganda. Some times I think that Consrvatives are bascially the only ones who pay taxes. I posted to Fox befause I did not want to link to the NYT.

1 posted on 03/25/2011 11:27:51 AM PDT by bilhosty
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To: bilhosty

So, where are all these Wall Street and corporate bashing liberals? Where’s Michael Moore?

I know where Jeffrey Immelt is. He’s usually on Air Force One when the Worshipped One is jet setting around the world. It’s good to OWN the king.


2 posted on 03/25/2011 11:34:19 AM PDT by Terry Mross (This is war. Choose sides.)
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To: bilhosty

Jeffery Immelt. Obama’s new BFF.

That says enough.

How corrupt and crony is this administration?


3 posted on 03/25/2011 11:38:08 AM PDT by GeronL (The Right to Life came before the Right to Happiness)
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To: bilhosty

I just went to run an errand, and son had on station with the life White House presser. Instead of turning to Rush as I normally would do, I stayed with the presser which was for once even more entertaining than Rush!

Carney was spinning and twirling and twisting trying to answer repeated questions about how Brackets could have Immelt, the GE chairman, the very “poster boy” for corporate tax evasion, as chairman on his counsel on jobs and incentives (whatever it’s called). It was great! Catch a rerun or on youtube if you can.


4 posted on 03/25/2011 11:39:00 AM PDT by EDINVA
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To: bilhosty

I haven’t looked at it and the article doesn’t say too much, but I’d assume GE and many other companies have plenty of loss carryforwards from the last few years to eliminate any taxes for some time.


5 posted on 03/25/2011 11:44:05 AM PDT by sox_the_cat
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To: bilhosty

2010 GE 10K - GE paid 2.671 BILLION in net US income taxes
so, the story is a LIE (per usual)
http://www.ge.com/ar2010/pdf/GE_AR10.pdf


6 posted on 03/25/2011 11:45:42 AM PDT by snarkbait (<<For Rent>>)
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To: bilhosty

Crony Capitalism at work.


7 posted on 03/25/2011 11:46:45 AM PDT by Tzimisce (Never forget that the American Revolution began when the British tried to disarm the colonists.)
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To: GeronL

GE CEO: “We are all Democrats Now”
http://www.economicpolicyjournal.com/2009/11/ge-ceo-we-are-all-democrats-now.html
now I get what he meant! Charlie Rangel, Tim Geithner,
Tom Daschle...


8 posted on 03/25/2011 11:50:45 AM PDT by WOBBLY BOB ( "I don't want the majority if we don't stand for something"- Jim Demint)
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To: bilhosty

To say that GE is liberal based on their ownership of G.E. is quite a stretch. They are the 2nd largest conglomerate in the world, and are selling NBC to Comcast.


9 posted on 03/25/2011 11:53:30 AM PDT by Smogger
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To: Smogger

They are indeed selling NBC to comncast. That means they held it for all of these years. It is so easy to be liberal when you are not the one paying the taxes(it doesnt matter whether you are rich or poor).


10 posted on 03/25/2011 11:56:14 AM PDT by bilhosty (Don' t tax people tax newsprint)
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To: WOBBLY BOB; bilhosty
Why are taxpayers forced to subsidize wealthy corporations that Obama likes? Politically connected looters...

GE has accumulated $26 billion in American profits while receiving a net benefit of $4.1 billion from the IRS

Wow.

11 posted on 03/25/2011 11:59:15 AM PDT by GeronL (The Right to Life came before the Right to Happiness)
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To: GeronL

Bill O’Reilly used to go after Immelt but he’s been pretty quiet lately. I guess because GE is one of his sponsors.


12 posted on 03/25/2011 12:13:59 PM PDT by FES0844
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To: GeronL
How corrupt and crony is this administration?

So very much corruption apparent, and so very few dots to connect. (Ayers, Rezko, Stern, Immelt, and others are "dots", there are of course others.)

13 posted on 03/25/2011 12:18:48 PM PDT by Seaplaner (Never give in. Never give in. Never...except to convictions of honour and good sense. W. Churchill)
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To: Seaplaner; bilhosty

bilhosty
The point is that all corporations are not being treated the same. The government has NO BUSINESS playing favorites.

Plus there should be no such thing as corporate welfare.

seaplaner:

Its like a chapter right of an Ayn Rand novel


14 posted on 03/25/2011 12:22:27 PM PDT by GeronL (The Right to Life came before the Right to Happiness)
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To: bilhosty

Corporations pay tax on profits but they recover the cost by charging higher prices for their goods and services. They must make a profit. The tax cost is passed on to the consumer. Consumers pay the corporate tax and on top of that they are likely to pay a sales tax as well. Corporate taxes are an indirect way of getting more taxes from the people.


15 posted on 03/25/2011 12:41:43 PM PDT by orinoco
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To: bilhosty

I wonder why Obama gave them a bailout?


16 posted on 03/25/2011 1:10:21 PM PDT by RolandTignor
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To: bilhosty

I wonder why Obama gave them a bailout?


17 posted on 03/25/2011 1:10:37 PM PDT by RolandTignor
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To: bilhosty

And what tax law did they break exactly?


18 posted on 03/25/2011 1:52:56 PM PDT by Tim n Texas
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To: orinoco

Corporations pay tax on profits but they recover the cost by charging higher prices for their goods and services. They must make a profit. The tax cost is passed on to the consumer. Consumers pay the corporate tax and on top of that they are likely to pay a sales tax as well. Corporate taxes are an indirect way of getting more taxes from the people.”

So therefore there is no reason for them to worry about higher taxes and should not do everything they can to get out of them, is there?


19 posted on 03/25/2011 2:08:51 PM PDT by bilhosty (Don' t tax people tax newsprint)
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To: Tim n Texas

“And what tax law did they break exactly?”

being phoneies and stabbing us in the back. That may not be against the law but that iss what they are doing to us. A rich liberal is just a country clubber who doesnt pay taxes.


20 posted on 03/25/2011 2:11:11 PM PDT by bilhosty (Don' t tax people tax newsprint)
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To: bilhosty
I swear I've seen this thread somewhere..like last year:

G.E. and Bank of America paid no federal income taxes last year

Anybody taking bets on whether they will pay taxes next year?
21 posted on 03/25/2011 3:49:59 PM PDT by af_vet_rr
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To: snarkbait

How about pointing us to the page(s) out of this 140pp document that contains the information to which you refer?


22 posted on 03/25/2011 6:30:42 PM PDT by EDINVA
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To: bilhosty

As mentioned, taxes cause prices to go up for the consumer. If prices go too high sales will go down. There has to be a balance. That is a reason why government must be careful not to overtax corporations. Hope this helps!


23 posted on 03/25/2011 6:33:32 PM PDT by orinoco
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To: EDINVA

Page 70, statement of cash flows.


24 posted on 03/26/2011 6:44:06 AM PDT by snarkbait (<<For Rent>>)
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To: snarkbait

thanks


25 posted on 03/26/2011 7:34:15 AM PDT by EDINVA
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To: snarkbait

So, if those numbers were converted to an Individual’s income, leaving out a couple of zeros here and there, Joe Sixpack and the Missus made $751K and had write-offs/exemptions totaling $627K, their net income was $124K and their tax liability was $2,480? Deferred?

I can make $124K, get a tax bill under 2%, and defer paying it? Is this a great country of what?


26 posted on 03/26/2011 8:02:10 AM PDT by EDINVA
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To: orinoco

So why do corporations constantly do everything they can to minimize there taxes? Are they doing it for us? It is not as simple as that. Some times taxes like property taxes and other things that are a cost of doing business can be passed on.. But, sometimes not. If you are in interstate commerce and are in a high tax state you are at a disadvantage and you will probably eat most of the tax difference and probably all of it. If you are in a market that is highly competitive you may not be able to raise your rates. And then we come to income taxes and other after the event taxes. They are on profits and are taxed afterwords so it is unlikely they will result in higher costs unless they cause there to be less investment9which may or may not happen). It is not that simple. I used to think like you but now that I see how the corporations stop worrying about spending by governments when they pay less taxes and how they seem to be more and more controlled by libs I am changing my tune about give them a free pass. These very upper class persons run the government and if they spend as they are then they should pay for it. I am not in favor of any more reductions in country clubber taxes until they put some money into conservative media and secure the borders. If the tax rates are to high to return an investment then Wall Street should not of given 80% of their campaign contributions to Obama. some things jut plain have to change.


27 posted on 03/27/2011 3:09:00 PM PDT by bilhosty (Don' t tax people tax newsprint)
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To: bilhosty
It took you about 275 words to simply say that corporations sometimes pay taxes that are passed on to the consumer and sometimes they do not pay taxes.
So if corporations do not pay taxes the price for their product is based on the expense to produce the product plus profit. If corporations do pay taxes then, as I mentioned previously, the price for the product will include the tax with other costs plus profit. The consumer ultimately pays the tax.
If you want to learn more please consult an accountant.
28 posted on 03/27/2011 3:42:25 PM PDT by orinoco
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To: orinoco
Do they really sit down and say, oh my taxes just went up so I will raise my cost of my product. It is not just like that. Again, some are at competitive disadvantages or the market just may not bear a raise in prices. If a company could just go out and raise prices higher they would of done that in the first place without a tax hike. No, it is more complex than that. Income taxes are paid based on profit and will flux any ways. When taxes go down do prices come down? No they generally do not unless there are competitive pressures. And for the same reason prices do not automatically go up if taxes do.
29 posted on 03/27/2011 6:04:34 PM PDT by bilhosty (Don' t tax people tax newsprint)
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To: bilhosty

Not that I don’t get the hypocrisy, but my guess is that there is something behind this. For example, did they get a bunch of tax breaks for wind farms or other green technology “research.”

I’m frustrated because I can’t find a decent news source that is telling the actual story. In fact, even the discussions that I hear from Fox is about “repatrioting profits.” I read that as “we should tax profits made by US corps overseas.” I couldn’t agree more......

Anyway, I’d love to see what the story really is....


30 posted on 03/28/2011 2:35:16 PM PDT by CSM (Keeper of the "Dave Ramsey Fan" ping list. FReepmail me if you want your beeber stuned.)
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To: CSM

That is true to be fair we probably need to get more information. On the other hand NBC has never been fair to us so screw ‘em.


31 posted on 03/29/2011 8:27:27 AM PDT by bilhosty (Don' t tax people tax newsprint)
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To: orinoco

“The consumer ultimately pays the tax.

Caterpillar says it is moving out of the state of Illinois due to coporate income taxes. I guess they are just sick of collecting oour taxes fromus, aren’t tney?


32 posted on 03/29/2011 8:30:49 AM PDT by bilhosty (Don' t tax people tax newsprint)
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