In a Remarkable Show of Bi Partisanship... GE Pays No Tax on 14 Billion Profit.

[Doctor_K]

This whole thing is outrageous. They make almost $15bn in profit, pay $0 tax. Meanwhile, everybody is bitching about wanting to raise taxes on the rest of us. Unfuckingbelievable.

Only about $5 billion of that was in the US, with the rest being made in other countries.

The question that raises is: did they pay taxes on their profits made in those other countries? 

If they did - shame on the US Tax Code and all its loopholes.

[Timkin]

Sooo... at the end of the day, the headline, thread topic title, and anything else related to this is wrong?  Since GE did indeed pay income taxes for 2010?

If you think them paying a smaller percentage than you do is right, then sure.

Not at all.  i think it's ludicrous.

But the title of the thread and initial article is "GE Pays No Tax..." which is not true.  They did.  It's misleading.

The thread, as I am reading it, says " Re: In a Remarkable Show of Bi Partisanship...GE Pays No Tax on 14 Billion Profit".   Not that it did not pay Income tax.   That means (to me at least) it paid no taxes on its profits. 

[Timkin]

This whole thing is outrageous. They make almost $15bn in profit, pay $0 tax. Meanwhile, everybody is bitching about wanting to raise taxes on the rest of us. Unfuckingbelievable.

Amen.  Id have no problem paying more taxes , believe it or not , If I could see an appreciable change in our City, Urban Core,  Transit,  Historic Preservation , WHATEVER...  But I do not get why a corporation can make profits of this amount ,regardless of which country the profits were made in , and pay NO taxes on those profits. 

[mtraininjax]

If I could see an appreciable change in our City, Urban Core,  Transit,  Historic Preservation

The problem my old friend, is that you cannot see a measurable difference. When the Peyton geniuses raised our storm water taxes and called them fees, did we see an immediate improvement in the quality of life? Have we seen the green algae die away? When the school raised our property taxes last year, because they could, did we see an improvement in the school system from those tax dollars?

I am sure that this will stir the pot with the liberals, but there are some smart people out here. Perhaps they could elaborate on a recent tax, of the last 10-15 years, passed that made life better here in Jacksonville, beside the BJP or anything related to the Jaguars. Sure the toll roads going away were nice, but did the half cent sales tax improve JTA? I'd be interested to see a local tax that has made a measurable difference in the lives of the citizens of Jacksonville. It would restore some of my humility.

[Timkin]

If I could see an appreciable change in our City, Urban Core,  Transit,  Historic Preservation

The problem my old friend, is that you cannot see a measurable difference. When the Peyton geniuses raised our storm water taxes and called them fees, did we see an immediate improvement in the quality of life? Have we seen the green algae die away? When the school raised our property taxes last year, because they could, did we see an improvement in the school system from those tax dollars?

I am sure that this will stir the pot with the liberals, but there are some smart people out here. Perhaps they could elaborate on a recent tax, of the last 10-15 years, passed that made life better here in Jacksonville, beside the BJP or anything related to the Jaguars. Sure the toll roads going away were nice, but did the half cent sales tax improve JTA? I'd be interested to see a local tax that has made a measurable difference in the lives of the citizens of Jacksonville. It would restore some of my humility.

And we are in agreement on this M.  thus , the last posting of mine.  I have no problem with taxes, but Id like to see something APPRECIABLE that those dollars ( and everyone else that paid)  were used for. 

[finehoe]