NYTimes: GE's Strategies Let it Avoid Taxes Altogether

[Dreamingwolf]

Oh I think we can point our anger at both parties. I agree that the Dems get more from me because they actually say they want to end 'corporate welfare' and then obviously do nothing to actually make that happen. To the GOP's credit, they are completely up front with being ok letting corporations get away with stuff like this.

They aren't getting away with anything, they are following the law. If the gov set the speed limit to 90mph on the beltway, and someone drives 90mph on the beltway they arent getting away with anything.

Every state, city, and county tries to get business to come and set up in their yard. If we are going to participate in the global economy then our government has to compete with those localities.

If I have a business and the locality wants to burden the business, and moving it to another locality will pay for the move and then some well Im gonna move. This has been going on forever. What would the reason be for the business to stay?

 

[Elephant]

DW, I was directing my comments towards the people on this board who generally identify themselves as Repubs, not Libetarians.

El, I would never advocate for higher taxes, but to think that a company as large as GE is not paying ANYTHING? That is reprehensible to me. I am being asked to sacrifice, the company i work for is cutting back, but GE hides behind, if you raise our taxes, we raise our prices and/or fire people? Give me a break.

Preposterous.
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Funny thing is, I am going out on a limb here as a Conservative to claim we are going to have to raise taxes. Tax hikes along with spending cuts are the only way we can get out of this debt.

My only concern is where and how much do we raise taxes and cut spending?

You and I agree there should be across the board cuts in spending. I agree, GE should not have received a bailout of any kind! Taxes? Well, they do employ thousands! Shouldn't they get some type of break? Pay nothing? I am not sure I support that either, but I would rather see them keep their people employed than pay taxes. It is more cost effective to have those people working.

 

[Goaldeje]

Key question to me is "Pay nothing?". I am not arguing for a massive increase in their taxes, but knowing that they have found every imaginable loophole to escape the tax system turns my stomach. I don't know what the answer is, but I do know what it isn't. "nothing" isn't the answer.

And Dreaming Wolf, your analogy to speeding might be more apropos if you included the fact that GE hired lobbyists and lawyers to ensure that the rest of us have to honor the speed limit at 55, while GE gets to enjoy a 90mph speed limit. Go read the article.
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[fansince62]

Key question to me is "Pay nothing?". I am not arguing for a massive increase in their taxes, but knowing that they have found every imaginable loophole to escape the tax system turns my stomach. I don't know what the answer is, but I do know what it isn't. "nothing" isn't the answer.

And Dreaming Wolf, your analogy to speeding might be more apropos if you included the fact that GE hired lobbyists and lawyers to ensure that the rest of us have to honor the speed limit at 55, while GE gets to enjoy a 90mph speed limit. Go read the article.
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it does raise issues of fairness...kinda like State governments collecting Union dues.

 

[Dreamingwolf]

Key question to me is "Pay nothing?". I am not arguing for a massive increase in their taxes, but knowing that they have found every imaginable loophole to escape the tax system turns my stomach. I don't know what the answer is, but I do know what it isn't. "nothing" isn't the answer.

And Dreaming Wolf, your analogy to speeding might be more apropos if you included the fact that GE hired lobbyists and lawyers to ensure that the rest of us have to honor the speed limit at 55, while GE gets to enjoy a 90mph speed limit. Go read the article.
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I did read the article. Lets go with your example modification, if the gov sets the speed limits up like that then it is perfectly legal for GE to drive that way. If you decide to build a corporation that fits the parameters of the Law, then you and your vehicles could also do 90.

Maybe I read it wrong, but nowhere did it say that GE was recieving special treatment. Sure they got laws put into place that allowed them to behave like they wanted to, but the way it read to me any other corporation could enjoy the same benefits if they were willing to behave the same way. They followed the law.

Also you have to take in mind, that this isnt the first year GE didnt pay taxes. They have compiled tax credits, and they can use them to equate thier tax burden. Other corporations have tons of them too, if you know who is rich in compensation it will probably profit you if you are willing to invest.

If you are angry at GE, you need to be angry at everyone who pays taxes cause everyone finds ways to not pay them. If they give you the right to not pay, why would you pay? I hear Mass. has the option to pay more on your income tax, I would be interested how many choose it. People and corporations want to pay as little as possible in taxes, so they can enjoy their efforts as much as possible.

You hate things you vote to support, and you think I dont read things.

 

[Goaldeje]

First off, I don't hate GE. I don't blame them at all for taking advantage of a system that allows it. And technically, you are correct, they are not getting special treatment. They simply bought Charlie Rnagel's vote through money for schools. There is a side of me that says in that way, they did pay taxes. The problem is, it just feels icky to me. Doesn't pass the smell test, i guess. And I know, I know, this kind of crap goes on every day in Washington, just that most of the time we don't hear about it. I get it.

It doesn't mean that I have to like it though.
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[redskins26]

The AP got punked

http://www.aim.org/don-irvine-blog/ap-gets-punkd-over-ge-tax-refund-story/