DIYbanter - View Single Post - GE Paid No Taxes on $14 Billion in Profits

Hawke[_3_]

On 11/19/2011 4:34 PM, wrote:
On Nov 19, 4:52 pm, wrote:

I wasn't talking about green energy or profits made offshore. I was
simply making the point that multibillion dollar corporations are making
tons of money and not paying any taxes. Why wasn't up to question. The
point is if they aren't paying anything in taxes then who is? I say it's
the average working person who is paying if the corporations are not.
That's pretty clear isn't it?

So do you believe that companies should pay U.S. income taxes on
profits that are made outside the U.S.?

I haven't given that question much thought so I'm not sure where I stand
on that. But off the top of my head it seems fair that if a company is
an "American" company then they should pay some portion of taxes in
their home country no matter were they earn their profits.

I don't think that's right. I think those businesses should be paying
much closer to 30% of all the taxes to the treasury. I also find it
amusing that the average guy, who is paying for everything in this
country doesn't seem to mind that he's paying a lot of taxes and huge
corporations pay none. I find that ironic to say the least.

So do you believe that companies ought to not follow the U. S. tax
code? That is, if Congress says it wants to encourage green energy
sources such as wind power and provides tax incentives to do so, that
G.E. should not build generators for wind mills.

As I said in my last post I am using GE as a symbol for corporations
making lots of money and paying nothing in taxes while the little guy
pays a third of his income in taxes. My point is that unfairness of that
situation. GE is getting specific tax credits and breaks for things the
government is encouraging it to do. I'm all for that. But we have the
same thing to a certain extent going on with almost all companies. They
are all getting breaks so they can avoid paying taxes while the regular
guy gets none of that and pays a high percentage of what he makes.
That's not fair.

I find it ironic that you want the government to encourage green
energy, but you then are upset that G.E. accepts the tax credits for
building generators for wind power. Make up your mind on what you
want.

What I want is clear. I want corporations in general to pay a lot more
of the tax revenues for the country. I want the government to encourage
clean energy. I know that the companies that participate in these
programs get tax breaks. But way too many companies are getting way too
many breaks. Companies need to pay a lot more so that average guys can
keep more of their money, which they need very badly just to live on.

Hawke