March 25th, 2011
06:26 PM ET
10 years ago
White House, taxes and the CEO who shall not be named
NEW YORK (CNNMoney) - The Obama administration has been talking about corporate tax reform a lot lately. And so it was on Friday - but not through prepared bullet points.
Reporters peppered White House Press Secretary Jay Carney with questions about a story in the New York Times detailing the efforts of General Electric to avoid paying taxes.
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I just want to understand this correctly. Republicans are against taxing the rich or the corrporations they use to hide money so that they dont have to pay tazes while middle class americans have to shoulder the tax burden including small businesses who arent able to untilize these tax loopholes. Unbelievable tothink that any Republican is for helping the middle class they are the lapdogs of corporations who want to continue to pay no taxes.
Only in "Barrys World" !
If he's going to cut taxes even more, Obama had best cut expenses also as money without backing cannot be printed indefinitely. These companies layoff people, cut benefits, and work their remaining employees to death, then expect to pay less or no taxes. Appointing any of the corporate crooks to economic development is like putting the fox in charge of the hen house.
It's the goal of Republicans in the House and Senate to make sure that their corporate buddies don't have to pay a dime in taxes. They call the unemployed lazy and drug addicted, the demonize teachers, firemen and police officers. They say all government workers are lazy, and they apologize to BP because they had to pay for their own clean-up. They cut heating assistance programs and education for the poor and middle class, but the won't touch the 59 billion dollar subsidy that tax payers have to give big oil, it doesn't matter that big oil makes hundreds of millions of dollars in profits. How any average person can vote for this group is beyond me. I guess that's why Republicans want to destroy the education system in this country, they want all of us as dumb as their constitutes.
For those who didn't read the article – Charlie Rengal the NY congressman worked his magic so GE could get the tax breaks. This is the same company who closed its US light bulb plants years ago and sent the manufacturing offshore. Lovely people.
The GOP will hate the idea of somebody abusing their corporate masters.
If we, regular employees, do not pay taxes on our $50-200K salary, the IRS will come after like a cheetah on a rabbit
If GE, big corporation does not pay taxes on $14B revenues, the IRS give them $3B in tax cuts...
Well, why everybody is so surprised? this is the norm, isn't it?
I am so disgusted.
Will not be buying any GE products.
Corporations typically face a 35% federal income tax, but many end up never paying that amount.
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Yes, but anyone who thinks the things that a company does to get deductions are bad doesn't understand business. Deductions are things that the company has done, such as Research & Development that the government has determined are good for the country. Deductions are good. They are legal and they help America in many different ways. Not paying taxes doesn't mean that America hasn't benefited from this company's profits.
Corporations represent productivity.
Persons who do not produce anything of monetary value but survive on entitlements paid by taxing productive persons and corporations want corporations to pay all the taxes they possibly can.
If there is no productivity, there is no money.
If there is not enough productivity, there is not enough money.
I'm on the side of the productive guys.
The rich protect the rich and those who make THEM rich!
Any time that Obama, Carney, or any of the Democrats do not want to answer questions...They just say "I don't want to talk about it"--and that is enough for the Obama puppet media. No more questions.
The Obama puppet media has not done any research/investigating since Obama was elected-even before he was elected.
The Obama puppet media will even provide cover/spin/lies for Obama and the Democrats-no matter what the issue.
Corporation tax loopholes, corporation off-shore accounts hiding profits are shielding /hiding sorely needed tax revenues by our country. The United States is losing more money due to tax breaks than it collects in income tax. Congress needs looking at fiscal ants (NPR,Forest Service,etc.) and pay attention to fiscal elephants–TAX REFORM!
I love how the supreme court allowed big coorporations the right to basically buy elections with "Anonymous donors," but that we constantly hear how these companies don't pay taxes. Meanwhile, me in my middle class job and not raking in the cash had to send some extra money back in. And hey, the government wants to cut things that benefit me in the middle class!
GOP Tea Party need to address campaign promise of priority No. 01 JOBS, JOBS,JOBS.–focus on JOB CREATION. Mr. Speaker where are the JOBS?? Todate, zero (000,0000,000,000) new jobs legislation.........................? Where are the promised GOP Tea Party promised jobs solution for 30 million unemployed / underemployed Americans! How long do we have to what?
Just like the press, let's make a controversy where there isn't one.
If you want credibility on how to fix the tax code, you can start by paying your own first. These tax evading executives should be jailed and their assets sold to others who have decency.
GE executive on the Obama council? GE paying zero tax. Dosn't look like tax reform to me.
This is a major problem in the United States. Big corporations and rich individuals get all the tax breaks, and end up paying little or nothing. Yet the politicians give them more tax breaks. So when the government takes in less money, we either have to spend less or tax the middle class. THAT is why we are in this mess. It's NOT about our country being broke. It's about the wealthy NOT paying their share.
watch it, the rib and tater boy is looking to raise taxes, take our guns away and the boy wants to be king of socialist america, REvolution is near, he better listen, the white man is slowly getting angry.
The shrinking US population, known as the middle class, has been footing the tax bill, thanks to the GOP. The sheeple that call themselves republicans are merely wanna-bes! WAKE UP! You will NEVER be wealthy!! You are SUCKERS who put into office people who DO NOT care about you!! When was the last time Beck, Limbaugh, Palin or Bachmann wanted to give YOU a tax break!?
Wha...? But American corporations are so put upon because of our anti-business high tax rates...
Evidently, ZERO is too much for these anti-American, anti-capitalist fascists to pay.
What a joke our corporations have become. Whining and lying while sticking it to their rank and file employees
GE's tax exemptions are 24,000 pages long – In the end, they pay NOTHING. My "single" young son made a mere $24,000 and paid close to $1000 in taxes???? NO loopholes for him!!!
Yes I really like Google
General Electric Chairman Jeff Immelt and Obummie are buddies. What do you expect? Same thing goes with Obummie giving George Soros's Petrobras Oil of Brazil billions of dollars to drill for oil while he shuts our oil drilling down. Obummie is the biggest crook to hit the white house.