MoveOn.org - Latest Comments in GE Gets Pranked Big-Time

Re: GE Gets Pranked Big-Time

HeWhoIsFromBeyond — Fri, 06 May 2011 22:40:38 -0000

Hmmm, "a corporate tax rate that is already the third highest in the world".

Please be so kind as to do what you con-servatives never do: PROVE your claims.

Re: GE Gets Pranked Big-Time

HeWhoIsFromBeyond — Fri, 06 May 2011 22:30:38 -0000

No matter how hard you try to ignore it, the truth will never go away.

Re: GE Gets Pranked Big-Time

HeWhoIsFromBeyond — Fri, 06 May 2011 22:25:23 -0000

If they did, they richly deserved it.

For almost two decades, the mainstream media have been Republican lapdogs, instead of their former role of being watchdogs protecting democracy.

Re: GE Gets Pranked Big-Time

HeWhoIsFromBeyond — Fri, 06 May 2011 22:19:04 -0000

"Don't you care the Republicans want the poor to live

in a box? . . . That's baloney, the poor living in a box."

Oh, really? Have you never taken a walk through your city? If you claim Yes, have you bothered to notice the homeless men, women, and children who do live in the only homes they can afford...boxes?

You being nothing more than a heartless Republican, I doubt very much that you have ever bothered to take a look around you without a pair of those rose colored glasses you con-servatives love to wear.

Re: GE Gets Pranked Big-Time

HeWhoIsFromBeyond — Fri, 06 May 2011 22:03:21 -0000

Since you can't do arithmetic, that's no less than 10,000 protesters times 50 state capitals, making for a total of no less than 500,000 active protestors demanding, among other things, that prosperous corporations be removed from the Corporate Welfare rolls, and that these corporate freeloaders be made to pay their taxes.

Re: GE Gets Pranked Big-Time

Gadfly47 — Fri, 15 Apr 2011 10:05:32 -0000

Freddie and Fannie are definitely culpable, but they were late comers to the party. And Goldman Sachs played a major role in creating the housing bubble. Read Matt Taibbi's article "The Great American Bubble Machine" It's very informative and you can find it on the web.

Re: GE Gets Pranked Big-Time

Adam [redacted] — Fri, 15 Apr 2011 04:25:18 -0000

Boycott Congress, they set up the rules.

Re: GE Gets Pranked Big-Time

BlackMan23 — Thu, 14 Apr 2011 23:16:01 -0000

Wow 10,000 people BFD. You are a buffoon!

Re: GE Gets Pranked Big-Time

BlackMan23 — Thu, 14 Apr 2011 23:15:21 -0000

Trash, I couldn't get through what you wrote since it was so boring. Make your point or go home.

Re: GE Gets Pranked Big-Time

BlackMan23 — Thu, 14 Apr 2011 23:14:14 -0000

I have one thing to tell you. GE employs roughly 135000 people in the US, they pay a ton of payroll taxes. Also, when you file your taxes, do you say hey I shouldn't take any deductions, and I should pay extra? As long as its legal its OK. If there is something illegal going on that is a different story. We only have a few big American brands that resonate around the globe and you would prefer to bash this company. This company was founded by the brilliant innovator Thomas Edison one of American history's legends...GE is as American as apple pie.

Re: GE Gets Pranked Big-Time

BlackMan23 — Thu, 14 Apr 2011 22:58:57 -0000

Goldman Sachs does not issue Home Loans. The truth is Freddie Mac and Fannie Mae are culpable.

Re: GE Gets Pranked Big-Time

BlackMan23 — Thu, 14 Apr 2011 22:55:56 -0000

Dummy, check your facts, GE doesn't own NBC/Universal anymore.

Re: GE Gets Pranked Big-Time

batva757 — Thu, 14 Apr 2011 21:53:35 -0000

Why? They were just following the tax laws like any other corporation. If I could get away with paying no tax I would

Re: GE Gets Pranked Big-Time

Gadfly47 — Thu, 14 Apr 2011 17:24:25 -0000

No, it was the meltdown resulting from Goldman Sacs and other big players making billions by making home loans they knew couldn't be repaid, then reselling those crap loans to investors as AAA investments. Then after they wrecked our economy the government bailed them out so they could keep their cushy jobs and ridiculous bonuses, leaving tax payers to pay for it all.

The US does have the second-highest corporate tax rate on paper (just behind Japan). Yet, somehow these huge companies seem to manage to pay nothing. I don't think we need to raise the tax rate. Just close the loop holes they use.

Re: GE Gets Pranked Big-Time

kingofpaint — Thu, 14 Apr 2011 13:45:05 -0000

I would think that you had a good point if it wasn't for the fact that GE not only didn't pay any of the corporate taxes, but received government subsidies. Not only did GE not pay any of the "excessive" corporate taxes you speak of, they got money back.

Yes, our corporate tax rates are very high, but the largest corporations have pushed for excessive loopholes so they don't have to pay the "excessive" corporate taxes. Only the small corporations, who can't afford to buy the political muscle, end up paying the full corporate taxes.

At this point, some of these large corporations are receiving subsidies with one hand and moving jobs overseas with the other. I can't help but to think that it is taking advantage of our system, at the expense of the American People.

I think if we want to stamp out socialism, we should start with the corporate welfare system. If they can't make it on their own profits, why should they have ours?

Re: GE Gets Pranked Big-Time

sortiz1965 — Thu, 14 Apr 2011 13:40:39 -0000

Well said. The point people on this board fail to understand -and you clearly point out-is the simple fact that pushing a corporate tax rate that is already the third highest in the world even higher will drive even more jobs overseas. There is a tipping point at which the best business decision is moving jobs overseas.

By the way, GE's financial statements are available to anyone who wants to examine them. Their finances are no mysterious secret.

Re: GE Gets Pranked Big-Time

sortiz1965 — Thu, 14 Apr 2011 13:33:28 -0000

What exactly do you plan to boycott? Aircraft engines? Power systems on an industrial scale? Medical imaging devices? MSNBC? The bulk of GE's profits are generated from huge scale projects. Personally, I don't mind profits by a corporation that manufactures the engines that keep my ass safely aloft when flying at 35,000 feet on my way to vacation or business. Or the medical devices that help a doctor diagnose a cancer early enough so it can be treated. Think about what these corporations produce and contribute before labeling them as evil.

Concerned about taxes? Push for tax code simplification. Get rid of the loopholes. GE has squadrons of highly trained people whose jobs entail maximizing shareholder value. Corporations in our capitalist system, first and foremost, have responsibilities to their shareholders. If maximizing profits entails taking advantage of LEGAL loopholes, then so be it. Eliminate the loopholes and you eliminate the advantage. Otherwise, corporations will continue to maximize profit any way they legally can to meet their fiduciary responsibilities to their shareholders.

One final thought: a large part of people's retirements (myself included) depends on the mutual funds that invest in these "evil" corporations. Compromise the ability of corporations to make money and you compromise people's retirements. I for one don't plan to depend on Social Security as my only source of income when I retire.

Re: GE Gets Pranked Big-Time

larmar — Thu, 14 Apr 2011 12:56:34 -0000

Will giving a damn interfere with watching Dancing with the stars?

I would recommend you watch "Capitalism a Love Affair," if you have not watched it already.

Re: GE Gets Pranked Big-Time

larmar — Thu, 14 Apr 2011 12:53:57 -0000

I agree, starting right now I will no buy any G E Railroad Locomotives, G E Nuclear Power plants or G E industrial Electrical switches.

Re: GE Gets Pranked Big-Time

Lefty2012 — Thu, 14 Apr 2011 10:07:31 -0000

The American people need to boycott GE and everything that has to do with GE. That includes NBC/Universal, which includes MSNBC. If people continue to pump money into their company they'll never get the message.

Re: GE Gets Pranked Big-Time

babaregi — Thu, 14 Apr 2011 03:05:54 -0000

I just watched the Giants (2010 World Champions) beat the Dodgers tonight at the packed AT&T Stadium. My friend has a business (which purchases lots of Yellow Page and Internet ads with AT&T) and got free tickets to the best seats in the house in the AT&T Executive Lounge Box with the catered food and beer.There were lots of corporate lounges on the Oracle Level of the stadium filled with the Captains of Industry enjoying each others' comraderie (not talking business, supposively). It's nice to watch the game the way that the elites are accustomed to.
The point is, I don't think many around me were sweating any of the things that we all are fervently debating on this site. In fact, I don't even believe that the "unwashed masses" in the regular seats give much thought about it either. I haven't been to an event like that in decades and it really struck me as being in the "belly of the beast". There were corporate logos all over the place and the crowd was pleased-as-punch to be there and not care about anything that is happening in the rest of the world or even here. It's "bread and circuses" like in ancient Rome. The sheep and their Masters having some good clean entertainment.
We're a tiny, tiny fraction of people that are taking anything of importance seriously enough to study and even debate it. That's just my personal opinion. I wish I was wrong but the masses don't seem to care, not yet. Oh, well...let's argue... like anyone else gives a damn.

Re: GE Gets Pranked Big-Time

HeWhoIsFromBeyond — Thu, 14 Apr 2011 01:48:20 -0000

"I’m sure everyone on this site remembers the financial meltdown, right?"
Yes, I most certainly do remember the hugh Great Recession disaster caused by Bush and his very greedy Wall Street pals.

And my heart bleeds so much for the poor executives of the
many mega-corporations which suffered such terrible losses
last year, their pay rose only a mere 27%. Which means that they can no longer afford such luxuries as food, clothing, and medical care. Oh my Goddess, since no one has the right to buy their own house, these terribly plagued executives can't even buy their own homes!!

As for the rest of your nonsense,
http://wonkroom.thinkprogre...

Re: GE Gets Pranked Big-Time

LukeWarm57 — Wed, 13 Apr 2011 23:46:05 -0000

GE’s profits in the industrial side of its business were offset by losses in its finance arm – GE Financial. GE Financial is still carrying losses resulting from the financial meltdown. I’m sure everyone on this site remembers the financial meltdown, right? That was the meltdown resulting from people thinking they were “entitled” to buy a home they couldn’t possibly afford, because advocates of big government, like this site, convinced everyone that owning a home is a constitutional right, which it isn’t.

Anyway, back to GE. GE’s effective tax rate in 2010 was 7.4% based on its worldwide income, at a time when many mega-corporations suffered losses and didn’t pay any taxes. Since most of GE’s profits are made overseas where tax rates are less than in the US, GE seeks to generate as much of its profits overseas in order to minimize its tax burden. The US already has the highest corporate tax rate in the industrialized world. If everyone reading this believes raising corporate tax rates higher is going to benefit Americans, you are in for a rude awakening. It is only going to drive corporations like GE to move more of its operations overseas. Maybe instead of complaining about big business, you should consider finishing high school and find a way to earn a living instead of complaining about someone else's success. This is the land of opportunity, not the land of entitlements.

Re: GE Gets Pranked Big-Time

cichlid — Wed, 13 Apr 2011 21:42:09 -0000

Uhmmm...why??? and Red Smith - Yes! Great ideas!

Re: GE Gets Pranked Big-Time

Renee721Renee — Wed, 13 Apr 2011 21:39:37 -0000

Why don't we start a movement to boycott G.E. and other companies products that assume the middle class should pay their taxes. We can use this tactic as an effective means to get their attention. We need them to bring jobs back to America and assume some corporate responsibility for their actions. If they can't invest in America, we should not spend our hard earned money on their products. Remember, we have spending power and can make choices about what and where we spend our dollars. Corporations need us to make those huge profits, there are alternative available to us and we should make smart choices that will benefit us in the long run. Let us use what we have to draw the attention of the corporations to leverage our concerns and negotiate for the good our fellow Americans.