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Tell General Electric: Pay your taxes

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Scuba Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Apr-07-11 12:31 PM
Original message
Tell General Electric: Pay your taxes
http://act.credoaction.com/campaign/ge_taxes/index2.htm...


According to a shocking expos just published by the the New York Times, GE made over $26 billion in profit in the United States during the last five years, but paid nothing in federal income tax. Zero. In fact, it claimed a $4.1 billion net tax benefit from the IRS during that time.1

Meanwhile, lack of revenue is causing brutal cutbacks of vital services at all levels of government.
We shouldn't be firing teachers and taking health care away from children because GE is shirking on its responsibility to pay income tax.

Tell GE: Pay your taxes
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OneTenthofOnePercent Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Apr-07-11 12:40 PM
Response to Original message
1. GE violated no tax laws.
The problem is tax laws and loopholes.

Honestly, I have exactly ZERO problem with what GE has done so long as remain lawful.
They've cheated nobody... it's our government that has cheated the taxpaying public.
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Scuba Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Apr-07-11 12:42 PM
Response to Reply #1
2. Yep, you're correct.
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Skidmore Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Apr-07-11 12:43 PM
Response to Original message
3. Better yet, don't buy from GE.
I haven't bought a GE product in years. There was a time when the name was synonymous with quality products, but now it is largely produced with planned obsolescence of 3 months in mind.
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doc03 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Apr-07-11 01:30 PM
Response to Original message
4. I received their annual report and they paid well over $1 billion
in federal taxes last year. The reason they didn't pay more is they had losses from their financial unit during the credit meltdown. It is perfectly legal to offset your profits from losses in prior years. They didn't break any laws, I am sure sure they have plenty of lawyers on the payroll to make sure they are in compliance.
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