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Originally Posted by Peter Pan
Samuels said at a tax forum in February that GE needs a tax system that will let it compete effectively with giant, foreign-based multinationals like Mitsubishi, Siemens (SI), and Phillips. However, their effective tax rates for earnings purposes last year were 40%, 31% and 26% respectively, compared with 7% for GE. (GE says its tax rate's been artificially low the past few years, and will soon rise.)
From the Fortune add, I will now show GE is only paying 7% and not there fair share vs not paying any taxes at all, but then GE has not come to bat publically on this issue, why? Because they do not pay there fair share vs this taxpayer who is not a millionare. Millionare's pay much more than 7% as Obama wants there level to go from 35% to 39%  |
Great. You still didn't answer the question.
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Please enlighten me as to how you see what is pretty much the only major corporation in the US that is investing money here, as well as pretty much the only one that is hiring here as the villain in all of this?
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The answer is simple. They aren't the villain and they are a living example of what needs to be done for a corporation to be profitable here. You want to bring the economy back? YOU HAVE TO MAKE BUSINESSES WANT TO BE HERE. It is a simple concept.
Not to mention, you forgot one other very important little part of my comment that is absolutely true. Taxing business does NOTHING other than hurt the consumer. If they pay more out in taxes, they charge more for the product which meant that the non-millionaire is the one who ends up paying anyway. It isn't too hard to figure that out. GE just lost $$ per refrigerator in Energy Star program tax credit cuts. The same amount was lost by Kenmore, Whirlpool, and all other American brands. Do a little research. What happened to the price of refrigerators in the last 6 months? Here's a hint. All American brands increased prices to consumers for products that went unchanged. Funny how that works.
Or the other option is to tax the hell out of them and then watch the layoffs happen, the business moved overseas, and in the end you are left with ZERO revenue.