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Thread: Obama Appoints Tax-Avoiding GE CEO to Lead Council on Jobs

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    Obama Appoints Tax-Avoiding GE CEO to Lead Council on Jobs

    I'm not advocating violence against the president in ANY form, but could I metaphorically sock the guy I elected? This bullsh-t is just the final straw for me.

    Obama appointed GE's CEO J. Immelt to lead his Council on Jobs... after the guy led GE to outsource jobs and PAY NO TAXES WHATSOEVER. It's better than that! GE not only paid ZERO TAXES, but they received 3.2 billion in tax benefits.

    http://www.nytimes.com/2011/03/25/bu...omy/25tax.html

    Speaking of the president, the article states:

    He has designated G.E.’s chief executive, Jeffrey R. Immelt, as his liaison to the business community and as the chairman of the President’s Council on Jobs and Competitiveness, and it is expected to discuss corporate taxes.

    “He understands what it takes for America to compete in the global economy,” Mr. Obama said of Mr. Immelt
    And of GE:

    General Electric, the nation’s largest corporation, had a very good year in 2010.

    The company reported worldwide profits of $14.2 billion, and said $5.1 billion of the total came from its operations in the United States.

    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.




    Ten minutes of your time, Mr. President. We have some "policies" to discuss. Like your complete and total lack of respect with regards to what you campaigned for.

    Or, y'know, in two words... your hypocrisy.

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    Yeah I'm not voting for him again either. Hindsight is 20/20 though, unfortunately.

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    It's difficult for me to even speak about this. We are talking about corporations that simply bleed the American public of their dwindling money, ship jobs oversees, and then give nothing back to the American economy.

    I mean, GE has even attempted to justify their mass job relocation by proclaiming that the "taxes" they have to pay here are so unreasonable and inflated, that they are "forced" to relocate, and that the only way they could possibly create more jobs in America is if those "ridiculous" "taxes" were lowered. Can you get lower than zero?! Oh wait, apparently you can - When you collect tax benefits on top of paying nothing.

    The intense income gap, the insurmountable greed..."business" on this level is difficult for me to entirely comprehend.
    Last edited by SavyrnGate; March 29th, 2011 at 11:08 PM.

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    Now, I know nothing about this person, but did look into GE not paying taxes. Turns out it is bullshit...maybe not total bullshit though. This seems to be quite a battle between GE and NYT. We really have no solid evidence one way or another as to what they paid in corporate taxes. However, with that in mind they did still pay $1 billion in non income taxes, you know, payroll, state, local, ect.

    Not that I want to discourage you away from voting against Obama...might I suggest Jello Biafra if he runs.
    There is no genuine justice in any scheme of feeding and coddling the loafer whose only ponderable energies are devoted wholly to reproduction. Nine-tenths of the rights he bellows for are really privileges and he does nothing to deserve them. H.L. Mencken

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    Mem, got a link to back that up?

    Unfortunately with regards to voting, "the enemy of my enemy is my friend." I refuse to vote for a Republican, Tea Party-ist, etc. Just too many things that they actually stand for that I vehemently disagree with, let alone the sh-t they'll get away with.

    However, I would be absolutely thrilled if the Democrats chose someone else to run. It's unlikely... but I can dream.

    I'm just going into my corner to fume a bit at Obama and write the White House now.

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    memnoch's Avatar
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    Quote Originally Posted by Sequoia View Post
    Mem, got a link to back that up?

    Unfortunately with regards to voting, "the enemy of my enemy is my friend." I refuse to vote for a Republican, Tea Party-ist, etc. Just too many things that they actually stand for that I vehemently disagree with, let alone the sh-t they'll get away with.

    However, I would be absolutely thrilled if the Democrats chose someone else to run. It's unlikely... but I can dream.

    I'm just going into my corner to fume a bit at Obama and write the White House now.
    Sorry, thought I posted it http://www.businessinsider.com/ge-taxes-2010

    Jello Biafra would likely be a green party candidate, which is why I thought you may like him
    There is no genuine justice in any scheme of feeding and coddling the loafer whose only ponderable energies are devoted wholly to reproduction. Nine-tenths of the rights he bellows for are really privileges and he does nothing to deserve them. H.L. Mencken

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    After a small amount of sleuthing through a few (occasionally rather contradictory) articles on the subject, it does appear there is some general confusion and possible "shifty" reporting on both NYT's and GE's parts on this issue. While there is still prominent speculation surrounding GE's questionable business policies as a whole, the details and specifics of this particular tax issue seem entirely up in the air.

    I'll keep my suspicion and distrust of GE at a slightly less frothy level until further information arises.

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