General Electric Pays Zero Taxes, Tells Employees to Tighten Their Belts
You can't make this shit up.
As the New York Times reported last week, GE paid no income taxes in 2010. In fact they received $3.2 billion in tax credits. And how did they pull this off? By having close intimate connections with “former officials not just from the Treasury, but also from the I.R.S. and virtually all the tax-writing committees in Congress,” according to the NYT article.
And now on top of that, GE will be demanding major concessions from its 15,000 unionized employees. Fourteen unions representing 15,000 workers will be negotiating a new contract with GE.
Pensions, health care coverage and wages will all go downhill if GE gets its way.
A machinist at GE said:
“You wonder why there is a jobs crisis in this country with a guy like G.E. CEO Jeff Immelt heading the President’s Jobs Commission.”
Labels: GE employee concessions, GE income tax, Jeff Immelt
posted by Tom Harper @ 6:23 PM
8 Comments:
It takes money to create jobs, hippie.
The sad thing is, they will get those union concessions. Meanwhile, almost half of the American people will continue to believe the key to getting outfits like GE to create more domestic jobs is to lower taxes. Like the bumper stickers says "the rat race is over: the rats won!"
It would seem to me that GE should pay its fair share of taxes, tighten ITS belt, and leave its employees ALONE!
To Paraphrase"
They made their money the old fashioned way they SCAMMED IT FROM THE GOVERNMENT!
Erik
Randal: Oh, you mean trickledown. Thank you Ronnie.
Rick: That's the exact problem; a gullible public keeps enabling these corporate sleazebags. I like that bumper sticker.
Jack: I agree wholeheartedly. It won't happen but it's a nice thought.
Erik: Yup, that's exactly how they made it.
“You wonder why there is a jobs crisis in this country with a guy like G.E. CEO Jeff Immelt heading the President’s Jobs Commission.”
I don't wonder why. I know why.
SW: I don't wonder either.
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