Quote:
Originally Posted by Joecooool
Its a fallacy to say we are taxing the shit out of domestic corporations. There are so many loop holes that the largest company in the world, GE, paid no taxes last year.
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...and GE is also one of the very few companies bringing thousands of jobs back to the US and investing well over a billion dollars into American plants in appliances alone. See how this works? It is about a LOT more than simple tax revenue.
In your opinion, which is better for America? GE paying ~100 million dollars in taxes, or employing somewhere near 160,000 Americans? You see the one line statement "GE didn't pay taxes" and you make all sorts of assumptions based on that.
How much tax income was generated by those 160,000 jobs? How much was generated by the sale of GE products? How much did the plants positively affect the communities that they are in? How many American companies does the GE business alone keep in business by buying raw material and parts?
Look at the big picture and it isn't quite so simple.