Deficit, National debt and taxes

[kydonky]

Here's a story from AP about GE. This company has shipped all appliance manufactoring to Mexico in the last two decades, continues to out source US jobs, but well 95% of their products in the US.

#yn-lookout-banner img { display:block; width:661px; height:80px; }G.E. paid no taxes on $5.1 billion in profits

By [COLOR=#1a5488]Brett Michael Dykes[/COLOR]
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By [COLOR=#1a5488]Brett Michael Dykes[/COLOR] [COLOR=#1a5488]brett Michael Dykes[/COLOR] – Fri Mar 25, 11:24 am ET
As Washington [COLOR=#0058a6]worries about the United States' growing deficit problem[/COLOR], there's mounting evidence the government is failing to collect taxes from wealthy individuals and corporations. A piece in[COLOR=#0058a6] today's New York Times by David Kocieniewski [/COLOR]outlines how G.E. skirted paying any taxes on $5.1 billion in profits in 2010--in addition to claiming a $3.2 billion tax credit.
The main reason G.E. is so adept at avoiding paying taxes, Kocieniewski writes, is because it's compiled an all-star team of in-house tax professionals plucked from the Internal Revenue Service, the Treasury Department, and "virtually all the tax-writing committees in Congress."


Gee manee Christmas. And still think corprate taxes are to high?

[Chubminnow]

G.E. paid nothing in taxes in 2010, which is also the same year it made billions in profits...PLUS they recieved a tax benefit! They suceeded in in these endeavors by finding "legal loop holes". Yea, this bites for us, the American people, with all the cutting going on amongst the working folks.

I've never felt like any succesful business man was an honest man, I've always gotten a feeling that succesful business men are on the sly, working all kinds of angles to make more money, cash, revenue, etc.

And for the past two years this C.E.O. at G.E. has served as the chairman of NO-bama's Council on Jobs and Competitiveness. Heck...even though I don't care for G.E. getting away with not paying taxes, you have to hand it to G.E., they were succesful in doing it, no jail terms, no illegal charges, no fraud or anything else. Maybe this C.E.O. guy will rub off on NO-bama and maybe before all is said and done we'll figure out a way to get rid of some national debt REAL QUICK!

[DJD]

When I hear GE I remember them being found out of selling products to Iran just a few years ago...In my industry they are bullies with deep pockets! I stay away from anything and everything with the GE name on it.

[Chubminnow]

Kind of hard for me to ignore them since they manufacture/assemble home appliances right here in Louisville.

[kydonky]

I know they have big Louisville Plant, also big plant in Ciny. But there is no boubt that the majority of their appliances are now made in Mexico. Interesting that the Plants they have in Ky and OH are the union plants. Non union plants like the one that used to be in Frankfort are now in Mexico.

I buy GE products partly because of their local presence. But I think they should pay fair share of tax. And I would also include BP, Shell oil, Exxon Mobile and others in this group.