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3/29/2011

Tuesday and Testy


Testy? Yes. Testy. I am a bit upset by something I've read, recently, and what better place to be upset than right here.

I need to point out that I have spoken with LM (Love Muffin) about this - that is to say, I ranted a bit - and she said, "Uh huh. Yeah. Whatever. Take the garbage out, will ya?" I get the distinct impression that the thing I'm upset about hasn't created the same kind of outrage in her. In fact, I think she could care less. Yeah. Whatever. I took out the garbage.

I read, in a report sourced from the New York Times, the General Electric Corporation, the largest corporation in these United States, made 14+ Billion dollars in profit last year. Which is good. Great, in fact, for G.E., stockholders and corporate executives. Not so good, however, for you and me.

General Electric paid NO FEDERAL TAXES. On more than 14 Billion dollars in profit. In a country where corporate income tax is 50%, they paid NONE. In fact, they were GIVEN more than 3 Billion dollars as a result of tax incentive deals. So. Not only did they NOT PAY 7 Billion dollars in taxes, they GOT 3+ Billion dollars from the Federal
Government.

The Federal Government is contemplating cuts to Social Security, Education, the Arts, and Public Broadcasting.

I wonder how many (and I'm willing to bet my LIFE that G.E. is NOT the only large corporation paying zero or LESS in taxes to the federal government) programs would need to be cut if the Large Corporations were paying, in taxes, what they rightfully SHOULD pay.

In the case of G.E., just how far would 7 Billion Dollars go?

The Government took MY money. Accepted it gladly. My little bit.

Why, oh why, are they NOT taking any money from G.E.?

7 comments:

Nan Sheppard said...

I wonder....

Ooo, my wv is 'damin'.

Bama Cheryl said...

You're right to be testy about this, Lou. Was a reason given as to why GE paid no taxes and instead received incentives? It's not right.

Grandmother said...

And just how do the politicians get us to believe that there isn't enough money so we need to cut social security rather than get taxes from GE and their ilk? How do they convince us to vote against our self interest? Baffling!
No kidding, the WV is "shingshp"!

Chibi said...

That is ridiculous! I don't know anything about the US tax system: how does this even happen/work?

Tara R. said...

This is something that has pissed me off for a very long time. Major corporations should pay their fair share. They benefit from government programs but do nothing for it. No taxes = no incentives.

Holly said...

Ooh! I heard this too. And the head guy at GE is supposedly on a presidential task force or some kind of advisory role to President Obama.

Have Myelin? said...

I jumped up and down when I read this too because my boyfriend needs a damn job and uhhhh.... I don't know why I see a correlation but I do? He's been looking for over two years and I am tired of saying arghhhhhhhhhhh.......

I pay more taxes than GE and I'm on Medicaid.