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GE Moving X-Ray Business to China

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posted on Jul, 27 2011 @ 04:09 PM
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Originally posted by Crapspackle
reply to post by jibeho
 


What does Obama have to do with this, specifically?


Want some Kool-Aid with those cookies?




posted on Jul, 27 2011 @ 04:12 PM
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reply to post by dolphinfan
 


Yep this is what happens when you raise corporate tax rates. Also on a side note, these are business's and their job is to make money not to provide jobs. I really wish they would like to help out the american people but that is not why they are in business.

So to all of those saying it's time the corporations pay their fair share well here you go. Expect much more of this the higher the rates go.



posted on Jul, 27 2011 @ 04:18 PM
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Also where are you getting the idea that they paid no taxes? They are just using a different way of paying instead of all up front for some reason.

www.washingtonpost.com...



posted on Jul, 27 2011 @ 04:51 PM
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reply to post by kro32
 


I agree that it is the responsibility of the corporation to make money. Thats fine. It is also the responsibility of the government to select products and services that are in the best interest of the tax payer. Now folks might think that is price, but price is but a small component. The taxes being paid, both various income taxes by workers as well as the general corporate tax is a significant factor when you are talking about large contracts. When you buy a product that is made in the US, the add on effects of that purchase are quite large. Component suppliers, logistics firms, service organizations like restaurants, pubs, etc supported by the workers.

The company needs to make money. The government should choose who is purchases items from factoring in all of the components of that purchase.

By the way, I would expand those contract reviews/freezes to organizations that collectively are funded in large measure by the US, notably NATO.

They can do what they want, it need not be painless however



posted on Jul, 28 2011 @ 12:16 AM
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Originally posted by Vikus

Originally posted by Crapspackle
reply to post by jibeho
 


What does Obama have to do with this, specifically?


Want some Kool-Aid with those cookies?


Right, I must be a brainwashed Zombie because I do not get mad at Obama everytime a dog farts.



posted on Jul, 28 2011 @ 12:17 AM
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Originally posted by kro32
reply to post by dolphinfan
 


Yep this is what happens when you raise corporate tax rates. Also on a side note, these are business's and their job is to make money not to provide jobs. I really wish they would like to help out the american people but that is not why they are in business.

So to all of those saying it's time the corporations pay their fair share well here you go. Expect much more of this the higher the rates go.




Raise corportate taxes? How much did GE pay in taxes last year again? Oh yeah. They got a refund. They paid nothing.



You say GE moved jobs overseas because billions in tax dollar refunds is taxed too much.


WOW!



posted on Jul, 28 2011 @ 12:23 AM
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reply to post by dolphinfan
 


Well I absolutely agree with what you just said.

Not much I can add to your post as it's very well said.



posted on Jul, 28 2011 @ 12:23 AM
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posted on Jul, 28 2011 @ 12:24 AM
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Originally posted by kro32
Also where are you getting the idea that they paid no taxes? They are just using a different way of paying instead of all up front for some reason.

www.washingtonpost.com...


What a rebuttal.

Did GE get a $3.2 billion tax refund? No.

That is it? Just no? Your article explains how they still had to pay 2009 taxes and apparently tries to excuse owing back taxes as not enjoying that refund? Interesting logic. Meanwhile.


Its American tax bill? None. In fact, G.E. claimed a tax benefit of $3.2 billion.

That may be hard to fathom for the millions of American business owners and households now preparing their own returns, but low taxes are nothing new for G.E. The company has been cutting the percentage of its American profits paid to the Internal Revenue Service for years, resulting in a far lower rate than at most multinational companies.


According to the article cited by your article. Notice each has a lack of supporting facts. So where do you get the idea that they paid taxes from?



posted on Jul, 28 2011 @ 12:25 AM
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reply to post by Crapspackle
 


Also if I was in charge of a corporation and was expecting huge tax increases I would plan ahead and move to a more favorable place before they hit.

That appears to be what GE is doing. I really hate having to explain obvious stuff to people.



posted on Jul, 28 2011 @ 12:25 AM
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Originally posted by kro32
reply to post by Crapspackle
 


www.washingtonpost.com...

You tell me



Its American tax bill? None. In fact, G.E. claimed a tax benefit of $3.2 billion.

That may be hard to fathom for the millions of American business owners and households now preparing their own returns, but low taxes are nothing new for G.E. The company has been cutting the percentage of its American profits paid to the Internal Revenue Service for years, resulting in a far lower rate than at most multinational companies.


NYTIMES


Just did.



posted on Jul, 28 2011 @ 12:26 AM
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reply to post by Crapspackle
 


You are actually blaming someone for using the tax code to their advantage? Would you pay the taxes the government asked you too if you could get around it?

Don't be hypocritical.



posted on Jul, 28 2011 @ 12:27 AM
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reply to post by Crapspackle
 


They are for some reason paying taxes a year later through some loophole in the tax code so it looks like 2010 taxes will be paid in 2011.

They will get paid so saying they aren't is nonsense.



posted on Jul, 28 2011 @ 12:28 AM
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Originally posted by kro32
reply to post by Crapspackle
 


Also if I was in charge of a corporation and was expecting huge tax increases I would plan ahead and move to a more favorable place before they hit.

That appears to be what GE is doing. I really hate having to explain obvious stuff to people.


If you were
If that were true
If that were going to happen
Then you would.

Great but I am not playing make believe. You are not. It is not. You will not be.

What you seem to think they "appear" to be doing is what you think they are doing based off of what seems to be a guess about your own personal choices based on variables that do not actually exist in the real world.

I hate having to remind people that make believe scenarios based on made up facts are not valid arguments.



posted on Jul, 28 2011 @ 12:30 AM
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Originally posted by kro32
reply to post by Crapspackle
 


You are actually blaming someone for using the tax code to their advantage?


No I am not. You are attempting to twist my point because you apparently got backed into a corner with no valid argument left.


Would you pay the taxes the government asked you too if you could get around it?

Don't be hypocritical.


If my avoidance of those taxes were helping to destroy my country...hmmm...the same country that gave me the benefit of owning that huge company? You would do well not to asssume my moral character.



posted on Jul, 28 2011 @ 12:30 AM
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yep thats one great job czar obama has immelt.

with people like that calling all the shots that economy is surely to get up and going.

people scream bloody murder about the ties the bush adminstration had with haliburton but i hear nothing but deafening silence about ge and the obama administration.

those jobs are long gone and never coming back.

kill off business and finance so the only game in town is the government dime.

no one can convince me that aint the plan.

too many pieces fit together.
edit on 28-7-2011 by neo96 because: (no reason given)



posted on Jul, 28 2011 @ 12:33 AM
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Originally posted by kro32
reply to post by Crapspackle
 


They are for some reason paying taxes a year later through some loophole in the tax code so it looks like 2010 taxes will be paid in 2011.




I know, that is exactly what I just said. They are paying taxes a year late. That does not mean they did not get a refund instead of owing this last year.


They will get paid so saying they aren't is nonsense.


Too bad you have nothing to back any of this up with.

They got a HUGE refund after years of paying lower and lower taxes then took those tax breaks and are moving to China with them. Argue your personal feeling on it all night long. I am stuck with the reality of what happened.



posted on Jul, 28 2011 @ 12:36 AM
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reply to post by Crapspackle
 


I never get backed into a corner but it is a nice debate. I'm glad we agree however that there is nothing wrong with a corporation or individual using the tax code to their advantage and you certainly can't claim that GE paying taxes at a later date is in anyway destroying the country. That's being done on multiple levels.

And yes If I was GE I would expect legislation to come regarding these tax loopholes they are using.



posted on Jul, 28 2011 @ 12:36 AM
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Originally posted by kro32
reply to post by Crapspackle
 


They are for some reason paying taxes a year later through some loophole in the tax code so it looks like 2010 taxes will be paid in 2011.

They will get paid so saying they aren't is nonsense.



In a regulatory filing just a week before the Japanese disaster put a spotlight on the company's nuclear reactor business, G.E. reported that its tax burden was 7.4 percent of its American profits, about a third of the average reported by other American multinationals. Even those figures are overstated, because they include taxes that will be paid only if the company brings its overseas profits back to the United States. With those profits still offshore, G.E. is effectively getting money back.


When my tax burden is lower than 7.4% you might have a case.



posted on Jul, 28 2011 @ 12:40 AM
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Originally posted by kro32
reply to post by Crapspackle
 


I never get backed into a corner but it is a nice debate.


You seem to be swerving errantly off topic and have stepped back from your claim that GE is paying their taxes. What is that behind you?

I'm glad we agree however that there is nothing wrong with a corporation or individual using the tax code to their advantage and you certainly can't claim that GE paying taxes at a later date is in anyway destroying the country.


Funny how I actually said the exact opposite. I do not agree with you on that at all.


That's being done on multiple levels.


I guess you do not know the difference between causing and contributing to?


And yes If I was GE I would expect legislation to come regarding these tax loopholes they are using.


You are not GE and GE has been getting out of paying its fair share in taxes for decades. Now keep up with me here. You yourself made the argument that they are moving because they are being taxed too much. Now you are arguing what heros they are for "legally" avoiding paying taxes.

Make up your mind. Are they being taxed too much and have to go to China or are they using legal tax loopholes to get out of paying taxes?

This is the corner you are in. You are defending them moving by claiming the tax burden is too high all while defending them avoiding paying taxes because they can.



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