G.E. did pay taxes...

[billc]

Here is an article from the Daily Caller that points out that G.E. did in fact pay taxes in 2010...

http://dailycaller.com/2012/01/30/general-electric-paid-2-67-billion-not-zero-in-2010-income-taxes/

Contrary to multiple news reports in 2011 that fingered General Electric as an [COLOR=green !important][FONT=inherit !important][COLOR=green !important][FONT=inherit !important]income [/FONT][/FONT][FONT=inherit !important][COLOR=green !important][FONT=inherit !important]tax[/FONT][/COLOR][/FONT][/COLOR][/COLOR] dodger during 2010, a GE representative told The Daily Caller the company did in fact pay more than $1 billion in U.S. taxes that year. Additionally, a document GE provided to TheDC establishes that the company paid $2.671 billion globally in income tax in 2010.

The document, a two-page chart from GE’s audited financial statements, turns on its head a strange corporate-accountability episode that began with an erroneous New York Times story.
The Times’ David Kocieniewski reported on March 24, 2011 that the company’s ”American tax bill” was “None. In fact, G.E. claimed a tax benefit of $3.2 billion.”
Kocieniewski has gradually amended his take on GE’s income [COLOR=green !important][FONT=inherit !important][COLOR=green ! important][FONT=inherit ! important]tax [/FONT][/FONT][FONT=inherit !important][COLOR=green ! important][FONT=inherit ! important]situation[/FONT][/COLOR][/FONT][/COLOR][/COLOR] without the Times ever retracting or correcting the original story. On August 31, 2011 he reported that GE officials “expected to pay a small amount of cash taxes.”

 

[granfire]

Took them 2 years to figure it out?

I thought you hated GE...

 

[elder999]

1457540[/URL]]Here is an article from the Daily Caller that points out that G.E. did in fact pay taxes in 2010...

http://dailycaller.com/2012/01/30/general-electric-paid-2-67-billion-not-zero-in-2010-income-taxes/

If this is to be believed, then it's $1 billion U.S, $2.67 globally on `profits of $14.2 billion for that year.

Taxes of about 25%.

A lower rate than Newt Gingrich paid on his earnings, I pay on mine, Warren Buffet's secretary paid on hers, anyone with annual earnings of around $250,000 paid on theirs, and the same rate someone who earns as little as $35,000 paid on theirs.

I guess that's "fair." :lol:

 

[ballen0351]

If this is to be believed, then it's $1 billion U.S, $2.67 globally on `profits of $14.2 billion for that year.

Taxes of about 25%.

A lower rate than Newt Gingrich paid on his earnings, I pay on mine, Warren Buffet's secretary paid on hers, anyone with annual earnings of around $250,000 paid on theirs, and the same rate someone who earns as little as $35,000 paid on theirs.

I guess that's "fair." :lol:

I see that and say good then we need to lower newts, and Warrens secretary and anyone elses taxes to 25% others see it and says its not fair we need to raise GE's taxes.
What side are you on?

 

[Empty Hands]

What side are you on?

The side of fiscal responsibility?

 

[Bob Hubbard]

A quarter of your earnings is fair? Even "God" only wanted 10%.

 

[ballen0351]

Me too and I know in my household I can only spend what I make and then I stop spending. The govt says hmmm out of money ok ill raise taxes. That's not responsibility

The side of fiscal responsibility?

 

[The Last Legionary]

It's easy to pay no taxes at all. Just live off the grid. No job, no home, a tent, the woods and carefully planned raids on local farmers for the occasional chicken or carrot.

 

[Sukerkin]

I've said this before on the subject but it bears repeating. Building and maintaining a modern infrastructure costs money ... a mind-bogglingly large amount of money. That money has to come from somewhere because the businesses that rely upon that infrastructure to conduct their business are not fond of voluntarily providing it. So governments levy taxation to provide what private enterprise will not.

The result of people not wanting to pay their taxes to support the infrastructure of the country of their domicile is part of why governments can get into trouble via deficit spending. There are other 'legs' to that 'stool' of course, some more laudable than others (military adventures or ameliorating income gaps being a couple). The whole process is complicated by the use of debt as both a way of 'creating' money in the first place and as a way of handling the consequences of economic cycles (it's this bit that is where the real demons live, as it has lead to the destruction of the Middle Classes, leaving us with, again, only Lords and Peasants).

 

[ballen0351]

I've said this before on the subject but it bears repeating. Building and maintaining a modern infrastructure costs money ... a mind-bogglingly large amount of money. That money has to come from somewhere because the businesses that rely upon that infrastructure to conduct their business are not fond of voluntarily providing it. So governments levy taxation to provide what private enterprise will not.

The result of people not wanting to pay their taxes to support the infrastructure of the country of their domicile is part of why governments can get into trouble via deficit spending. There are other 'legs' to that 'stool' of course, some more laudable than others (military adventures or ameliorating income gaps being a couple). The whole process is complicated by the use of debt as both a way of 'creating' money in the first place and as a way of handling the consequences of economic cycles (it's this bit that is where the real demons live, as it has lead to the destruction of the Middle Classes, leaving us with, again, only Lords and Peasants).

I dont have a problem with being taxed I have a problem with the Govt Wasiting money, bailing out banks, and paying for dead beats to sit on their buts smoking weed all day and not working.
The U.S. Army Corps of Engineers has spent $51,500 of stimulus money on nine mascot costumes and robots, including Bobber the Water Safety Dog, Coastie the Water Safety Education Seaboat and Seamoor the Sea Serpent Robot.
The National Park Service purchased an electric golf cart for $8,223 to distribute oyster shells at the DeSoto National Memorial in Bradenton, Fla
The USDA's Agricultural Marketing Service spent $24.3 million of stimulus funds on the other other white meat. To be specific, AMS bought $16.9 million of canned pork, $2.6 million of ham, with water added, cooked and frozen, and $4.8 million of sliced ham (with water added, cooked and frozen).

just silly stuff like that makes people upset.

 

[Josh Oakley]

The other other site meat?
...
...
...

Baby?

Sent from my ADR6350 using Tapatalk

 

[Josh Oakley]

Also... When did government agencies receive stimulus funds???

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[Bob Hubbard]

I've said this before on the subject but it bears repeating. Building and maintaining a modern infrastructure costs money ... a mind-bogglingly large amount of money. That money has to come from somewhere because the businesses that rely upon that infrastructure to conduct their business are not fond of voluntarily providing it. So governments levy taxation to provide what private enterprise will not.

The result of people not wanting to pay their taxes to support the infrastructure of the country of their domicile is part of why governments can get into trouble via deficit spending. There are other 'legs' to that 'stool' of course, some more laudable than others (military adventures or ameliorating income gaps being a couple). The whole process is complicated by the use of debt as both a way of 'creating' money in the first place and as a way of handling the consequences of economic cycles (it's this bit that is where the real demons live, as it has lead to the destruction of the Middle Classes, leaving us with, again, only Lords and Peasants).

The $10 aspirin

While not directly related to the taxes, the same BS applies to every friggen thing modern governments do. Each step of any process (and there are many many steps) increase costs with no real benefit.


Edit to add:

I'm not opposed to paying something for services. What I demand is value for my money. I'm an old school code hacker....we'd bum code to get it as tight and efficient as we could. When I work on my photos or client websites, I try to be as economical and efficient as I can be.

I don't see the problem being people not wanting to pay taxes as people not wanting to pay for unnecessary bloat, graft, fraud and inefficiency.

Here's 1 article I found on a quick search. It cites some stats which is more of interest than some of it.
[h=3]Insourcing and Why Government Costs So Much[/h]Here in WNY we had a woman who for years because of union rules and government political crap, was paid a seriously nice chunk of change to sit in a room and play solitaire and read novels, because she couldn't be fired yet no one would give her work.

100 outrageous ways the federal government wasted your tax dollars in 2011

 

[ballen0351]

http://money.cnn.com/galleries/2009/news/0908/gallery.unusual_stimulus_projects/2.html
forgot the link to the article

 

[Sukerkin]

"I don't see the problem being people not wanting to pay taxes as people not wanting to pay for unnecessary bloat, graft, fraud and inefficiency."

Which is perfectly understandable and not something I would take issue with. Sadly, from what I read, that is not the message that comes across, however. The core tune seems to be that people don't want to pay taxes and don't want the government to do anything (that they don't want them to do). That again is an understandable sentiment but it is not a realistic one in a modern, interconnected, society.

 

[ballen0351]

"I don't see the problem being people not wanting to pay taxes as people not wanting to pay for unnecessary bloat, graft, fraud and inefficiency."

Which is perfectly understandable and not something I would take issue with. Sadly, from what I read, that is not the message that comes across, however. The core tune seems to be that people don't want to pay taxes and don't want the government to do anything (that they don't want them to do). That again is an understandable sentiment but it is not a realistic one in a modern, interconnected, society.

Its not the people dont want the Govt to do anything its that we dont want them to do EVERYTHING. Id just be happy if they stuck to what the Constitution said they were allowed to do and that was it. It always makes me shake my head when people hate Govt intrusion and in same breath say the Govt needs to provide health care, food, housing, jobs, and pretty much everything else people need. Well you cant have it both ways either Govt is involved in your life or its not.