GE Pays No Taxes - What a Fraud

SomeCoach wrote:

Westinghouse and Edison did great things for this country, and this world, for developing the capability for widespread use of electricity.

Yes they did, and amazingly they did this when they were paying taxes. So did Apple, Microsoft, Google, etc.

So we have solid undeniable proof that low corporate taxes aren't necessary for innovation or employment to take place, yet we still have conservatives saying all the stupid things they have said on this thread. There are only two reasons to support these conservative positions; either your an idiot or a criminal.

There is no intellectually honest reason for any conservative post on this thread. Based on experience it's pretty clear most conservatives lie through their teeth at every opportunity, that is clear from this thread also, but I won't discount the possibly many of them are just plan stupid because there's also pretty ample evidence of that.

Aghast wrote:

This on the heals of the Triangle Shirtwaist fire is precious. That was what a "sweat shop" is. Blanck and Harris locked them in and took no measures to protect them from fires because it would affect the bottom line.

Is that the best you can do? A single criminal incident from 100 years ago?

um, during the heyday of westinghouse and edison, the corporate tax rate was in the 11% to 13% range. So you just disproved your own theory.

Piso Mojado wrote:

um, during the heyday of westinghouse and edison, the corporate tax rate was in the 11% to 13% range. So you just disproved your own theory.

11-13% is a lot more than 0. The actual rate doesn't matter when you aren't paying it. Back then the share of federal money that came from corporate taxes was A LOT higher than the 6% today.

Piso Mojado wrote:

um, during the heyday of westinghouse and edison, the corporate tax rate was in the 11% to 13% range. So you just disproved your own theory.

Personal tax rate rate then was nearly 70% for upper income, so suck on that for a while. And BTW, where was that 0% tax rate when Apple, Google, Microsoft, HP, ORacle, SAP where in their founded? Hmmm?

Bobby1 wrote:

One reason this country is losing jobs, it because companies can move work to other countries which have better tax laws. Foreign income is not taxable in the U.S.

Yes, it is taxable, and that is part of the problem. It is taxable when they bring the funds back to the US, that is why they don't. Most countries do not tax foreign income.

the big bad scary white man wrote:

hilarious, they have one year of tax benefit and that negates the billions they have paid out, not to mention income tax on employees, and dividend tax on shareholders.

drop your sociology 101 and take a tax class. might learn something useful.

Agreed. The notion that corporations pay taxes, or even should pay taxes is ridiculous. Corporations pay taxes only because they collect them by raising the price of the products/services which they provide. All corporate taxes, to the dime, will be collected from the consumers. I doesn't work any other way.

Taxman commeth wrote:

Agreed. The notion that corporations pay taxes, or even should pay taxes is ridiculous. Corporations pay taxes only because they collect them by raising the price of the products/services which they provide. All corporate taxes, to the dime, will be collected from the consumers. I doesn't work any other way.

There's no "I" in society. Well, technically there is, but it's a lowercase i, which reflects the fact that individuals are only a small part of the total societal organism. Therefore it's only fair that we all pay our fair share of taxes. How much is each person's fair share exactly? I deliberately leave that question unanswered to justify the imposition of unlimited taxes. It's for the good of society, after all.

Scott4444444 wrote:

Bobby1 wrote:

One reason this country is losing jobs, it because companies can move work to other countries which have better tax laws. Foreign income is not taxable in the U.S.

Yes, it is taxable, and that is part of the problem. It is taxable when they bring the funds back to the US, that is why they don't. Most countries do not tax foreign income.

you don't need to be a dick just because you're wrong. if you are struggling with the concept of why tax rates matter in the investment decision, i suggest you wiki and understand the concept of net present value. it is a mathematical concept so if you are a sociology major, maybe you should ask someone who understands math to explain it to you.

btw, personal income tax rates don't influence corporate investment decisions....

Keith Stone wrote:

Piso Mojado wrote:

um, during the heyday of westinghouse and edison, the corporate tax rate was in the 11% to 13% range. So you just disproved your own theory.

Personal tax rate rate then was nearly 70% for upper income, so suck on that for a while. And BTW, where was that 0% tax rate when Apple, Google, Microsoft, HP, ORacle, SAP where in their founded? Hmmm?

you don't need to be a dick just because you're wrong. if you are struggling with the concept of why tax rates matter in the investment decision, i suggest you wiki and understand the concept of net present value. it is a mathematical concept so if you are a sociology major, maybe you should ask someone who understands math to explain it to you.

btw, personal income tax rates don't influence corporate investment decisions....

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sorry, i didn't mean to respond to you...

i can guarantee faced with the choice of no property tax and jobs in your community verse property tax (now none existent) and no jobs in the your community you would choose the former.

and for love...use some paragraphs.

No idea if this was pointed out yet (sorry, can't take 4 pages of people insisting that lower taxes are the answer to every possible scenario under the sun), but there is a very nice graph out there showing the relative share of income, payroll, and corporate taxes to the federal treasury. In short: income taxes have stayed relatively flat (as a share of the federal treasury) from 1950-now, accounting for 40-45%; payroll taxes have steadily grown from 10% of the treasury in 1950, to 40% now; and corporate taxes have steadily shrunk, from over 30% in 1950, to under 10% now.

Basically, the corporations have found ways to pay less (with GE being the champ), and the bill has been shifted to the working class. Another reason, among many, as to why right now such a disproportionate share of this country's wealth sits with a tiny fraction of its people.

http://motherjones.com/politics/2011/02/income-inequality-in-america-chart-graph