Change.....Right!

[vman]

Remember Vman telling you of Barry’s boiz traveling w/ him to Brazil? Of course one of them was CEO Jeffrey Immelt of General Electric. Obama’s recent cries for reform of the Tax Code are BS! He had two years at the start of his term to enact meaningful reform of how businesses are taxed and he did not! Are we supposed to believe that GE’s performance on their tax return is a surprise to him? When he hired the CEO to take basically take over the domestic economies “competitiveness”? Laughable!!...... I found this quote from Barry’s State of the Union Address: he derided the “parade of lobbyists” who had “rigged the tax code to benefit particular companies and industries”.

General Electric (GE) reported profits of $14.2 billion. Its American tax bill? None. After 2012, the traditional light bulbs you've been using will no longer be available. GE ramped up operations in China for your new lighting needs and to save on tax.

Its extraordinary success is based on an aggressive strategy that mixes fierce lobbying for tax breaks and innovative accounting that enables it to concentrate its profits offshore. The GE tax team includes former officials not just from the Treasury, but also from the I.R.S. and virtually all the tax-writing committees in Congress. Active Financing Example - G.E. finances the sale of a jet engine outside the U.S., the company would not have to pay U.S. tax on the interest income as long as the profits remain offshore. Tax Analysts, said that booking such a large percentage of its profits in low-tax countries has allowed G.E. to bring its U.S. effective tax rate to rock-bottom levels. News Info - MSNBC and NBC are owned and operated by General Electric.

GE’s tax evasion and abuse of the tax code is a renowned fact of American History! And still Obama did nothing in his first two years but find a way to hire the CEO!

And before some of you contend that this line of thinking is somehow anti-capitalist, consider the reaction of President Reagan when learning of GE’s skills in tax dodging.

“As it has evolved, the company has used, and in some cases pioneered, aggressive strategies to lower its tax bill. In the mid-1980s, President Ronald Reagan overhauled the tax system after learning that G.E. — a company for which he had once worked as a commercial pitchman — was among dozens of corporations that had used accounting gamesmanship to avoid paying any taxes.

And this miscellaneous garbage: Two mainstream news organizations are receiving hundreds of thousands of taxpayer dollars from Obamacare’s Early Retiree Reinsurance Program (ERRP) — a $5 billion grant program that’s doling out cash to companies, states and labor unions in what the Obama administration considers an effort to pay for health insurance for early retirees. The Washington Post Company raked in $573,217 in taxpayer subsidies and CBS Corporation secured $722,388 worth of Americans’ money.

At a hearing (April1,2011) the House Energy and Commerce Committee’s Subcommittee on Oversight and Investigations, chaired by Rep. Cliff Stearns, Florida Republican, asked Center for Consumer Information & Insurance Oversight (CCIO) official Steven Larsen for how the administration decides who gets a slice of the $5 billion pie – and how the application process works. In his response, Stearns referred to the fact that corporations like General Electric, Verizon and AT&T in addition to several labor unions were getting taxpayer funding.

[Manfred]

With Fox pulling the plug on Glenn Beck, we tea party-ers need you to keep up the good fight like this.

[vman]

For the uninformed or in case some have forgotten: In 2009, President Obama issued $80 billion of TARP money to General Electric with the promise to the taxpayers that GE would repay the money. But instead GE not only refused to pay any tax the following year, but it also demanded and received a $3.2 billion rebate.

As everyone knows, the original intent of TARP (Troubled Asset Relief Program) was to bail out banks – which, of course, meant that GE wasn’t eligible for a dime of it. But then, goodness gracious, GE suddenly ‘discovered’ that it owned two banks in Utah. Both of those banks applied for TARP funds, both were approved and, just like that, $80 billion was funneled through them to GE. GE also received 25 million dollars in stimulus funds.....GE shed 18k US jobs in the past 2 years????

And here's a quote from Barry when naming immelt Chairman of the “Council on Jobs and Competitiveness.”......I’m assembling a new group of business leaders and outside advisers. And I am so proud and pleased that Jeff has agreed to chair this panel because we think GE has something to teach businesses all across America.” Personally, I'd really like to know WTF Jeffy can teach us Barry!