Wow: GE Paid No Taxes in 2010

GE Paid No Taxes in 2010



General Electric (GE) employed a combination of "innovative accounting" and fierce lobbying to lower its tax bill in recent years, paying no U.S. taxes for 2010 and actually receiving a tax benefit of $3.2 billion last year.



General Electric is a multi-national company known for a dizzying variety of products, everything from light bulbs to TV networks to nuclear reactors. The company made $14.2 billion in profits for 2010, including $5.1 billion from operations in the US.


The top tax rate for corporations in the US is supposed to be 35%, one of the highest on Earth. But few corporations really pay that rate, the New York Times reports, since there are many possible loopholes that companies can use to get tax breaks. While 30% of Uncle Sam's revenue came from corporations in the 1950s, today it's down to just 6.6%.


According to the Times, GE is particularly adept at lobbying for and winning corporate tax breaks, spending tens of millions on lobbyist fees. For instance, the company benefits from green-energy credits on wind turbines, while getting a break on the the rate its jet engines depreciate.

GE has hired former IRS employees and Congressional tax specialists, and now employs an ex Treasury official to lead its tax department, while President Barack Obama has installed GE's chief executive as head of the new Council on Jobs and Competitiveness.

Even former President Ronald Reagan, well-known for his administration's corporate-friendly policies, took issue with GE's tax schemes. Reagan changed the tax system when he learned that GE was avoiding taxes, the Times reports.

"I didn't realize things had gotten that far out of line," Reagan told his Treasury secretary.

In the years since, GE has figured out new ways to get around paying taxes.

"In our system, there are corporations that view their tax departments as a profit center," one former Treasury official told the Times.

by Greg Stacy



Source: NY Times

Free state project

Free state project

A group of people who are moving to New Hampshire to promote
their political agenda. Saw this on the Stossel show on FOX business network

liberaltians

click to visit the web site.

http://freestateproject.org

Problem from Hell: America and the Age of Genocide

This is the book that Glen Beck was discussing this week on his daily tv show. It's is book that the UN and Obama seems to be using to justify the military (mammoth protection force) The author Samantha Power is currently on Obama staff for Foriegn Policy. This book was described as being anti Israel. Say a brief video clip on the show and this woman does scare me.
Who's the shitheadd that put her in the White House.

She is also married to Sass Sunstein, also in the White House, even more scary.

who is Stephen Lerner ? should you worry about him?

who is Stephen Lerner ? should I worry about him?

Watching Glenn Beck again, today Glenn put the spotlight on this character from the SEIU union. SEIU is the number visitor to the White House. Yet call to the SEIU union headquaters could not confirm if Stephen Lerner is an employee of SEIU.

It seems like this Stephen Lerner is brewing up some plans to  destablize the US banking /mortgage industry.


see on a lot more on Stephen Lerner , his past gistory,past positions with SEIU.

is Obama reducing USA soverignity for a new world order?

is Obama reducing USA sovereignty for a new world order?

This episode in Libya seems to indicate is handing off  US power to a global order. He side stepped Congress and then pass the control over to the French, UK and the Arab League.

He seems to downplay the idea of American's exceptionalism at every and any opportunity.

Pondering Obama inactions ? something smells in the White House

Pondering Obama inactions ? something smells in the White House

Watching the Glenn Beck show today and I think Glenn stumbled upon the motivation
for Obama presidential behavior/leadership or lack of.

Obama takes no Acton against Iran, makes hostile , discouraging
comments about Israel's behavior.

The Monitor of Boston, was hired to promote and enhance the image of Qadhafi
by Cass Sunstein (on Obama staffer) and George Sorios. Cass Sunstein is
now working at the White House.


I feel that Obama is running down America in the eyes of the world as a means
to reduce the American presence and power in the world,
as a way to distribute our global power. Part of his promise to transform of America.

Ultimate Loyalty: Japanese Dog Refuses to Leave Injured Friend Behind

Ultimate Loyalty: Japanese Dog Refuses to Leave Injured Friend Behind

Is there reaaly a Jewish mafia in Hollywood ?

Is there really a Jewish mafia in Hollywood ?



It's seem Charlie Sheen got in more trouble for using a real Jewish name than
his drugs and hookers. The name in question is "Two and a Half Men" creator Chuck Lorre aka Chaim Levine.



When Mel Gibson produced the film "The Passion of the Christ", after he couldnot get any Hollywood funding.

That film went on to become the highest grossing rated R film of all time with over $370 million in U.S. box office sales.

Now he may be on the Jewish "no go" list in Hollywood.

is Obama running down America?

is Obama running down America?

I feel that his action /inaction in the Midest turmoil and now Libya
he is not working in the best interest of the USA.


This may be part of his  global "social justice" that he learned from his childhood and the Rev. Wright in Chicago.

He's preventing drilling in the gulf and elsewhere in the US such as Alaska.

Spotlight on federal spending shitheads in Congress ?

Spotlight on the shitheads that sponsor/orginated duplcate federal spending?



Looking back in time can we can see a list of any congressman that
have sponsored /orginated these duplicate federal spending programs.
Estimated cost savings is in the billions.







http://video.foxbusiness.com/v/4561993/gao-report-reveals-government-wasting-510-billion/







http://www.foxnews.com/politics/2011/03/01/government-waste-numbers-report-identifies-dozens-duplicative-programs/